Managing 401(K) Plans

Plan sponsors struggling with the specifics of instituting 401(k) auto pilot programs will be pleased to know that a high deferral rate is not necessarily a deterrent to plan participation. So found MassMutual Retirement Services in a white paper on the best practices regarding automatic features in 401(k) plans. Entitled Automation: 3 Steps to High Performance, the white paper outlines important criteria that plan sponsors should consider when evaluating the adoption of automatic plan features, such as automatic enrollment, automatic deferral increases, and automatic asset allocation.