Plan fiduciaries devote significant time and resources to educating participants about the importance of saving for retirement.
Despite this effort and the care that goes into making a well-balanced menu of investment options available to all participants, many participant allocations are at odds with their retirement needs.
In this article, we look at what fiduciaries can do to help participants allocate their investments to achieve better retirement outcomes.
Specifically, we believe plan sponsors should consider an investment re-enrollment, an action that requires little effort from participants and can improve their long-term prospects.
To support our view, we provide four case studies that demonstrate how plan sponsors have successfully re-enrolled participants to help improve their investment allocations.