Automatic 401(k) features including auto-enrollment, as well as plans that also automatically increase participant contributions each year are beginning to have a significant impact on the success of employer-sponsored savings plans, and the balances of participants whove stayed in the game.
At some worksites, contribution managers have moved more than two thirds of its workers to an auto-enrollment system, and numbers are even higher at other employers. One retirement plan vendor, Vanguard, notes that 34% of its plans have adopted automatic enrollment, up from 24% five years ago.
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