Starting a 401(k) or qualified plan for participants might just be the easy part. Measuring the health of the plan and ensuring participants are adequately using it, can take more time and effort.
With that difficulty in mind, HR, payroll and benefits administrator ADP recently launched a new tool that is meant to aid sponsors in the measurement and effectiveness of their plans – The Plan Health Review Tool. Chris Augelli, vice-President of Marketing and Business Development with ADP Retirement Services, says often plan sponsors often have data about their participants but don’t know where to start in terms of measurement.
