Employer matches aren’t as strong an inducement to get employees into the 401(k) plan as you might think, according to Brigitte Madrian, professor of public policy and corporate management in the Aetna Chair at Harvard’s Kennedy School of Government.
While matches are great for employees once they’re in the plan, they’re not the best tool to encourage enrollment in the first place, Madrian said during a Web briefing sponsored by State Street Global Advisors, which recently launched its Defined Contribution Investor Survey report.
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