Monday, March 28, 2022

Boost participation—and help employees start saving today—with enrollment solutions.

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.