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  2. DEFINED CONTRIBUTION
July 23, 2018 01:00 AM

Work remains to get word out on employer match

Robert Steyer
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    Despite the improvements in defined contribution plan design and participant education, some research shows there's still a lot of work to do regarding the employer match.

    In a nationwide survey published earlier this month, 23% of workers said they didn't know their employer's match formula, while 56% knew the formula and met or exceeded the match, found the Empower Institute, the affiliated research arm of Empower Retirement, Greenwood Village, Colo.

    Another 21% said they knew the formula but didn't meet the match or didn't use the match as a guide to determining their contributions. The survey contained responses from 4,038 working adults, ages 18 to 65, who were enrolled in workplace retirement plans.

    The 56% figure "is a positive message about what the employer match can mean," said Steve Jenks, chief marketing officer of Empower Retirement, whose firm has prepared multiple match campaigns for clients ranging from targeted emails to videos to web-based content. "Our challenge is to chip away at that 23%."

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    • Topics
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      • Special Reports
      • Washington
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      • Top-Performing Managers
      • Largest Money Managers
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      • World's Largest Retirement Funds
      • Best Places to Work in Money Management
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      • WPS Innovation Awards
      • Influential Women in Institutional Investing 2023
      • Eddy Awards
    • ETFs
      • Latest ETF News
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      • Education Center
      • Equities
      • Fixed Income
      • Commodities
      • Actively Managed
      • Alternatives
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    • ESG
      • Latest ESG News
      • The Institutional Investor’s Guide to ESG Investing
      • ESG Sustainability - Gaining Momentum
      • ESG Investing | Industry Brief
      • Innovation in ESG Investing
      • 2023 ESG Investing Conference
      • ESG Rated ETFs
      • Divestment Database
    • Defined Contribution
      • Latest DC News
      • The Plan Sponsor's Guide to Retirement Income
      • DC Money Manager Rankings
      • DC Record Keeper Rankings
      • Innovations in DC
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      • 2023 Defined Contribution East Conference
    • Searches & Hires
      • Latest Searches & Hires News
      • Searches & Hires Database
      • RFPs
    • Research Center
      • The P&I Research Center
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      • Corporate Pension Contribution Tracker
      • Pension Fund Returns Tracker
      • Pension Risk Transfer Database
    • Careers
    • Events
      • View All Conferences
      • View All Webinars
    • Print