Talking with plan sponsors, much (though not all) of the resistance to innovative plan design shifts is predicated on concerns about how workers will respond.
For example, how will workers who have for years resisted (or put off) signing up for the 401(k) respond if automatically enrolled? Or, what will happen if you double the default contribution rate to 6%? And how about reenrolling existing investment selections into age-appropriate target-date funds? These are the kinds of plan design changes that ostensibly help workers’ retirement security – but about which, at least in the short run, there is concern about backlash.
This week, we’d like to know about your real-life experience with some of the more common objections.
You can “share” at https://www.research.net/r/2828NXH.
And we’ll share it right back with you on Friday!
