NAPA Highlights Ascensus’ Retirement Plan Design & Participant Data

A recent feature published by the National Association of Plan Advisors (NAPA) spotlights retirement plan design trends and data on employees’ savings progress released by Ascensus earlier this year. The article highlights the impact that auto features can have on plan participation and underlines the fact that 401(k) plans on our platform that couple auto features with a match have the highest overall average participation rate at 84%.​​ It also ​covers results from our Retirement Outlook Tool which allows employees to track their progress to retirement savings goals based on personal variables and their current savings rates. Younger generations of employees tend to make up the smallest portion of the segment of savers who are “on track” to goals, but they also have a longer time horizon to retirement and have plenty of opportunities to ramp up their current efforts.