Retirement plans are more than a benefit—they’re a tool to support your team and help your business thrive. But to get the most out of your plan, it needs to be designed with intention.
That’s why we’re launching a four-part Plan Design series to cover key steps that can improve your plan’s effectiveness and be sure it’s meeting the needs of your employees. There are eight key considerations for creating an effective plan design, and each video in this series highlights an essential consideration for plan design.
To start things off, we’re focusing on these first four:
- Eligibility – Offering the right eligibility options can attract top talent and improve retention.
- Automatic Enrollment – A proven way to increase plan participation and help employees save without feeling a financial pinch.
- Automatic Force Out – Removing small, inactive accounts can reduce administrative burden and streamline plan management.
- Loans – Setting clear loan policies can protect your plan’s integrity and keep employees focused on long-term savings.
Each week, we’ll spotlight one of these plan features in a short video, offering practical steps to help your employees save more and simplify plan management.
There’s no universal formula for plan design—it should reflect the needs of your team and your business. Thoughtfully adjusting these features can make your retirement plan a valuable tool for both recruitment and retention.
Curious about the full list of eight considerations for effective plan design? Click here to learn more.
