Are your company's employees saving enough for retirement? Maybe not, according to a report from the National Institute on Retirement Security, which states that four out of five Americans have less than a year's income saved for retirement.
The use of auto features in 401(k) plans has continued to climb in popularity over the past decade. In fact, auto features such as automatic enrollment and auto escalation are considered best practices in 401(k) plan design as ways to help boost participation and employee savings rates.
INTRUST Bank’s Corporate Retirement team was recently honored in 401(k) Specialist magazine for their great work in the area of retirement plan education. This award represents our team’s philosophy: focus on creating customized plans that help employees map their way to a great retirement.