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- Title
Nationwide Savings Plan Automatic Enrollment Getting Associates PREPared for Retirement.
- Authors
Gisonny, Richard; Douglas, Stephen
- Abstract
Despite Nationwide's considerable efforts, the active participation rate in its retirement plan remained mostly unchanged for many years, and the company knew its associates were not adequately preparing for retirement. Due to the passage of the Pension Protection Act of 2006, Nationwide implemented automatic enrollment and automatic increase features in the Nationwide Savings Plan (auto enroll/auto increase) in 2007. This article describes the company's better-than-expected results for all its associates and offers advice and encouragement to other employers that may be considering adding auto enroll/auto increase features to their plans.
- Subjects
INDUSTRIAL relations; RETIREMENT planning; RETIREMENT laws; PENSION laws; RETIREMENT policies; FINANCIAL planning; PENSIONS
- Publication
Benefits Quarterly, 2008, Vol 24, Issue 3, p13
- ISSN
8756-1263
- Publication type
Article