6 best practices to implement auto escalation in retirement plans

Auto-escalation, which automatically increases the percentage of an employee’s salary that is contributed to a retirement plan, is getting more Americans on track for retirement, says Joleen Workman, assistant vice president in the retirement division of Principal Financial. Here, Workman shares half a dozen ways advisers and employers can implement the practice within an employee population. Four in 10 Principal clients who use auto-enrollment offer auto-escalation, up from just 9% in 2010 — with most of the growth in the past 12-18 months.

Read more about auto-escalation here.