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Will “Set-it-and-forget-it” strategy help you reach your retirement goals?
In the 2017 PLANSPOSOR DC survey, it found that 42.7 percent of defined contribution plans overall use automatic enrollment, and 35.4% use automatic deferral escalation. However, this “’Set-it-and-forget-it’ might be the approach that many participants prefer to take when it comes to their retirement plan account, but for employers such an approach can be extremely limiting—or even detrimental. Chuck Coldwell of Consulting and BOLI Services at Pentegra, “believes as an industry, we still have not reached the goal of getting the majority of participants in a good place for retirement – even with auto enroll and escalate.” To continue reading what Mr. Coldwell and other retirement specialist say, click on attached link. Read article here…