Employee Outcomes

Closing the Auto-Escalation Gap
Team SummitEmployee Outcomes, Employer Resource Center, Fiduciary Governance, Plan Operations & AdminComments are off for this post
High participation rates don’t always translate to high deferral rates. According to the 2022 Callan Defined Contributions Trend Survey, three-quarters of DC plans offer auto-enrollment, while only two-thirds provide an auto-escalation feature. This discrepancy is concerning, as deferral increases over time are critical in helping participants achieve their retirement savings goals. Stagnant contribution levels contribute  Read More →
Benefits of Omnichannel Financial Wellness
Team SummitEmployee Outcomes, Employer Resource CenterComments are off for this post
The advantages of financial wellness programming for employers are well-documented and may include: lower health care costs, higher worker retention, reduced absenteeism, and increased productivity. But not all financial wellness plans are created equal, and boosting utilization rates can be an ongoing challenge. An effective omnichannel strategy can help plan sponsors engage more employees, regardless  Read More →
A More Nuanced 4% Rule?
Team SummitEmployee Outcomes, Employer Resource CenterComments are off for this post
In December 2022, Morningstar adjusted its recommended starting annual withdrawal rate for balanced retirement portfolios upward from 3.3% to 3.8%. The revision was based on an assessment of factors including recent equity valuations, bond yields and inflation. This new rate, however, is still less than the 4% figure commonly cited in financial planning literature. The  Read More →

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