New Years resolutions arent just for dieters and exercisers. The start of a new year is an ideal time for retirement plan sponsor to assess the effectiveness of their plan. Virtually all plan sponsors have areas that are ripe for improvement. Here are five resolutions to make and keep in 2015 to ensure you have a smoothly-running, cost-effective plan than succeeds at preparing employees for retirement.
1. Drive the autos. Have you implemented what has already been proven to work? Auto enrollment, auto deferral escalation, and auto (default) target dates have helped ensure that participants are in it to win it. These auto features guarantee that participants are joining, saving, rebalancing, and preparing for retirement more effectively than simply going it on their own.
