Participant Education Coupled with Auto Enrollment
Participant Education is a large contributor to the success of a 401k plan. Sometimes plan sponsors will auto enroll participants or auto increase the savings rates in the absence of strong communications efforts. At the conclusion of a Plan Sponsor University (TPSU) Fiduciary Education Program held at the Rice University in Houston, TX, TPSU Founder and CEO, Fred Barstein spoke with TPSU program attendee, Sharon, Manager of Human Resources at her firm. Sharon’s organization feels that any auto feature that is being implemented as a default for plan should be augmented with a n equally strong communications effort. Sharon describes that concept within this video.
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