Are your participants taking advantage of your match?May 21, 2018 | Research
According to recent surveys, 82% of 401(k) and combination plans1 and 49.4% of 403(b)2 plans provide a match on participant contributions. This is an important benefit that helps your participants prepare for retirement. When employees ignore this and do not contribute to the plan – or do not contribute enough to meet the full match – they are missing out on money being offered as a part of their total benefits package.
If your company or organization provides a match, are your employees taking full advantage of this opportunity? One best educational practice is to remind your participants annually about your contributions to their retirement account if they participate in the plan. To help you with this, download the three communications provided.
- Introduction sample email copy
- Matching Contributions video by Pete the Planner® that discusses how matching contributions can help your employees prepare for retirement.
- Why Hitting the Match Matters Guide provides reasons why hitting the match is so important.
160th Annual Survey of Profit Sharing and 401(k) Plans, Plan Sponsor Council of America
2PSCA 9th Benchmarking Survey of 403(b) Plans
The views and opinions expressed by Peter Dunn (aka Pete the Planner) are solely his and do not necessarily reflect the views and opinions of the companies of OneAmerica. Provided content is for overview and informational purposes only and is not intended as tax, legal, fiduciary, or investment advice. Pete the Planner is not an affiliate of any OneAmerica company.
Investing involves risk including the potential loss of principal.
Provided content is for overview and informational purposes only and is not intended and should not be relied upon as individualized tax, legal, fiduciary, or investment advice.