Employee Outcomes

Growing Interest in After-Tax Contributions to 401(k) Plans
Team SummitEmployee Outcomes, Employer Resource Center, Fiduciary GovernanceComments are off for this post
Voluntary after-tax contributions (not to be confused with Roth contributions) are just what they sound like. These contributions are made in after-tax dollars and the taxes on the earnings are deferred until the year of distribution. Many 401(k) plans still do not allow voluntary after-tax contributions because there has been, historically, little interest from participants.  Read More →
Customized Content is Good Medicine for Retirement Readiness
Team SummitEmployee Outcomes, Employer Resource CenterComments are off for this post
From recent college grads struggling with student debt to seasoned professionals planning an imminent retirement, participants’ financial needs and goals are as diverse as the workforce they’re part of. In response, many organizations have chosen to implement a multi-faceted financial wellness offering. According to the 2022 PLANSPONSOR Recordkeeping Survey, four in 10 recordkeepers have an  Read More →
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 →

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