It can be hard for employees to imagine what $100 per month can mean for their retirement, when $100 now is so much more tangible. That’s why visualizations of future savings amounts can help motivate employees to save more today. See what $100 per month looks like over 10, 20 and 30 years in this quick chart.
401k Best Practices
The "E" for Engagement essay focuses on how to help your employees make the most of the company 401(k) plan. For example, you want to not only evaluate how many of your employees are participating, but also how much of their salaries they're contributing, and how diversified their investments are. Nathan Fisher developed a mnemonic device called R.E.T.I.R.E. ® an employer's go-to resource for 401(k) plans.
A 401(k) plan can be one of the most compelling benefits for attracting and retaining valued staff—but only if your employees take advantage of it. This article looks at why it’s so important that your service provider focuses on helping encourage employee participation in the retirement plan, and some tactics you can use to increase employee engagement.
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