Modernizing a 401(k) plan by adopting features like automatic enrollment, auto-escalation, and financial wellness tools can feel daunting for many plan sponsors, who often fear these changes will confuse employees or spark pushback. This hesitation is understandable—automatically enrolling someone in a retirement plan or gradually increasing their contributions without explicit action may seem intrusive. However, these fears are largely misplaced. In practice, employees tend to embrace these features and increasingly expect their employers to offer them as part of a modern, supportive benefits package. For organizations looking to stay competitive, these enhancements—when paired with clear communication and thoughtful education—not only improve participation and long-term savings outcomes but also reflect a strong commitment to employee financial well-being. Embracing innovation in plan design can elevate a company’s benefits offering, boost engagement, and attract top talent.
This message was reinforced at the conclusion of a recent TPSU program held at the scenic University of Denver campus, where Fred Barstein—CEO and founder of 401kTV and The Plan Sponsor University (TPSU)—spoke with Sean Clancy, Managing Director at Prime Capital Investment Advisors. A Denver native with over 20 years at the firm, Sean leads a growing local team and is part of a national network of hundreds of retirement plan professionals. Drawing from his experience, Sean shared that many plan sponsors are hesitant to implement new plan features due to perceived complexity or fear of employee resistance. But in reality, he said, employees are not only open to these tools—they often expect them. When sponsors are supported with education, resources, and real-life examples, they gain the confidence needed to roll out these enhancements effectively—improving retirement outcomes while strengthening their organization’s competitive edge.
Sean also emphasized the value of TPSU programs in helping plan sponsors navigate these challenges. Unlike vendor-led events that may carry a sales pitch, TPSU sessions focus on objective, actionable education for those responsible for retirement plan oversight. “If it’s not them leading the effort, then who will?” Sean noted, stressing the importance of empowering HR and benefits professionals to drive retirement readiness. With platforms like TPSU, plan sponsors have the tools they need to create more effective, employee-centered retirement programs.
Read the Full Transcript Here:
Fred Barstein:
Greetings. This is Fred Barstein, founder and CEO at 401kTV and TPSU, just completed a program here on the beautiful campus of the University of Denver. 85 degrees here. And I’m here with one of our adjunct lecturers, Sean Clancy. Sean, tell us a little bit about yourself.
Sean Clancy:
Yeah, I’m a Denver native. I’ve been with Prime Capital for 20 years. I have a team out here in Denver of eight or nine individuals.
Fred Barstein:
And you’re the managing director.
Sean Clancy:
Managing director, yeah. I started as advisor and opened up an office here in Denver back in 2013.
Fred Barstein:
Great. And you’re part of a national organization?
Sean Clancy:
National organization, yeah. At this point, we have a couple of hundred advisors through multiple locations. I’ve had a tremendous amount of growth.
Fred Barstein:
One of the things you mentioned today, we always go through the ideal plan and the auto, and you mentioned that a lot of people, clients, prospects, they’re intimidated. What are you hearing?
Sean Clancy:
Well, I think there’s so many new features and new hot topics that are coming out in the retirement plan space and plan sponsors can sometimes feel overwhelmed or maybe intimidated to roll some of these features out to their participants because they think there might be some backlash or resistance when at the end of the day, it’s actually the complete opposite, there’s embrace to adopt new features.
There’s a goal and a desire for participants to get these things from their employer. In fact, there’s probably an expectation. So I think when we are able to provide the education, give them real life case studies of what happens when they do promote and they do implement these new features, that it’s a wonderful thing for the entire organization
Fred Barstein:
And it makes them more competitive, right?
Sean Clancy:
Extremely competitive.
Fred Barstein:
[inaudible 00:01:56] and retention. Final question. Why should a plan sponsor attend a TPSU program?
Sean Clancy:
It’s unbiased information. There’s really just the desire to educate people in positions that are really responsible for bringing things like this back to their organization. If it’s not them, who else is doing it? So there needs to be platforms like this to make companies more competitive, to get what is essentially a crisis of people not being able to get to retirement. They have to be armed with all the tools and resources, so what better place to do it than events like this?
Fred Barstein:
Well, thank you. Thanks for being an adjunct lecturer.
Sean Clancy:
Absolutely.
Fred Barstein:
And look for more programs here every six months in Denver with Sean and his team at Prime Capital. Thank you for watching 401kTV. Please stay tuned and please attend a program near you or a virtual option.
