It’s National Retirement Security Week, and Managing Director Martha King celebrates the year-round efforts of plan sponsors to make retirement readiness a reality for participants.
Head of Vanguard Retirement Plan Access discusses the role of professional partnerships in the management of small- and mid-size retirement plans and how guidance on issues like plan design can result in small changes that produce meaningful results for participants.
Learn about Vanguard’s new participant homepage, which makes it easier for participants to understand what they have, what it means, and what they should do next.
Since 2001, more defined contribution plans are adopting automatic enrollment and many are also implementing stronger savings rate defaults. Over 20% more people are saving in these plans. Meanwhile, the total savings rate has stayed the same.
Retirement plan participants and investors are faced with what can be an overwhelming number of choices. Simplifying the decision-making process can increase participation and contributions.
The single-fund solution works for most plan participants. But for those who are more informed and engaged, adding a satellite investment on top of a TDF isn’t necessarily a mistake.
This blog discusses creating a cadence for planwide events. Margaret Rux, head of Vanguard Strategic Retirement Consulting, says a schedule of reenrollments and sweeps can improve plan participation rates and help get participants into age-appropriate investments.