Adopt
automatic enrollment.
The easiest, most
effective way to help an eligible employee join the plan is to enroll them
automatically. Auto-enroll is now considered a best practice, and plans with
this feature have a 13% higher average participation rate.*
*Source: Ascensus. As of December
31, 2020.
Enable
online enrollment.
Encourage enrollment by
making the process more convenient—from the desktop or READYSAVE™ mobile
app (for plans with mobile enrollment enabled). To help employees get started
online, share the Digital Capabilities Guide, which can be found on the plan
website under Resources > News & Communications.
Deliver
targeted communications.
Personalized employee
mailers promote participation with simple and meaningful messaging. The
eligibility mailer highlights savings projections based upon each employee's
compensation, while the quick enroll mailer enables the employee to take action
and join the plan by completing and returning the mailer. See a sample of the
quick enroll mailer here.
Give them
resources.
We believe there is a
direct correlation between participant education and participant engagement.
That’s why we offer webinars intended to help eligible nonparticipants join
their employer’s retirement plan. This quarterly webinar focuses on four key
actions to complete enrollment. You can find the complete participant education
calendar here.
To discuss how to take advantage of enrollment solutions, and other ways
to increase plan participation, please contact your Client Service Team.