401(k) Challenge – Employee Participation
Plan sponsors have plenty on their plate as we begin the fourth quarter of 2014 – budgets for next year, health care renewals and 401(k) plan document restatements, to name a few.
Still, there’s one challenge that continues to nag sponsors year after year: “How can I get more of my employees to participate in our 401(k) plan?”
Nationally, only 66% of current workforce has saved money for retirement. More than 50% of workers who are currently saving for retirement have less than $25,000 in their accounts. In addition, more than 50% of U.S. workers have not calculated their retirement goal. What’s going on here?! Getting employees interested in your retirement benefit is more important today than it has ever been before – for their sake!
Mike Maher, Chairman of Valley Forge Financial Group, will discuss proven strategies to bring your plan participation rate to 80% -90% with a few minor adjustments to the plan document.
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