Retirement benefits

The sheer number of modest, inactive 401(k)s — along with the friction in the industry that makes it difficult to seamlessly transfer the balances from plan to plan as participants change jobs — is causing a lot of undue stress.

Plan sponsors must continue to offer automatic plan features and do a better job of vetting target-date funds.

Workers should start shoring up their savings by chipping in as much as they reasonably can to their employer’s retirement plan, especially if it comes with a matching contribution.

The sheer number of modest, inactive 401(k)s — along with the friction in the industry that makes it difficult to seamlessly transfer the balances from plan to plan as participants change jobs — is causing a lot of undue stress.

Employees often don’t save enough, and few utilize auto-escalation.

A new survey looks at trends in fees and investment options — and shows there’s lots of room for improvement.

Plan sponsors must continue to offer automatic plan features and do a better job of vetting target-date funds.

With the goal of improved participant outcomes, a simplified approach using straightforward language could be more attractive to employees.