The automatic escalation provision in a 401k plan causes an employee's contribution to rise yearly by 1% of the employee's pre-tax salary to a minimum of 10% and a maximum of 15%. The recent 2021 ...

Employee retirement savings rose in the first quarter, and most of the increase came from a single plan feature. Two-thirds of higher employee deferrals were tied to auto-escalations, a mechanism that ...

WINDSOR, Conn.--(BUSINESS WIRE)--Voya Financial, Inc. (NYSE: VOYA), is sharing findings from a new field study conducted through the Voya Behavioral Finance Institute for Innovation focusing on ...

401(k) plan policies like auto-enrollment and auto-escalation have become popular. They aim to boost workers' retirement savings. Pioneering researchers found that the policies may be less effective ...

A new study suggests that plan sponsors can increase the rate of automatic enrollment in 401(k) plans without decreasing participation. The results are based on a new study conducted by Voya ...

Two of the most widely used mechanisms to improve participation in 401(k) plans – automatic enrollment and automatic escalation of contribution rates – may be much less effective than previously ...

Washington, D.C., Oct. 24, 2023 (GLOBE NEWSWIRE) -- A new report from MissionSquare Research Institute finds adoption of automatic enrollment features in state and local government defined ...

Most people set up their 401(k) retirement plans and forget aboutthem. Other than seeing their 401(k) contributions taken out of their paycheckseach month, most employees adopt a set-it-and-forget-it ...

Employee retirement savings jumped in the first quarter as automatic features did much of the work. Two-thirds of the increase in deferrals came from auto-escalation, a plan feature that raises ...

Employers are increasingly putting workers' 401(k) plan savings on autopilot. But the positive impact of automated retirement savings is more muted than initially thought, new research finds.