If you are reading this paper, surely at some point you have heard the common industry notion that trying to communicate with Defined Contribution (DC) plan participants is a waste of time and money. In fact, it has become almost a default position that retirement outcomes can only be marginally impacted by participant communication programs. In a recent Cerulli survey, DC plan recordkeepers ranked “financial education” as the least effective strategy for encouraging retirement savings—behind auto-escalation, auto-enrollment, simplified enrollment process, adjusting the match formula, and even simplifying the investment menu.view more white papers
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