When it comes to helping increase employee retirement savings, getting employees enrolled in a retirement plan is a great first step. However, is simply participating really enough? Once employees are enrolled, there is so much plan sponsors can do to fine-tune their plans to encourage more saving and better retirement outcomes. Decisions such as the default deferral rate and the default investment solution (managed accounts vs. target-date funds) can potentially impact how much an employee may defer into their plan. Check out the infographic below to learn more the impact these decisions had in a recent study on 195 Schwab retirement plans.
*For important disclosures about the information shown in this infographic, click here.
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