Although familiarity with automatic enrollment and automatic escalation is high among large employers with 401(k) plans, the majority of respondents to a new AARP survey have yet to adopt either feature.
The vast majority (94%) of employers who responded to the survey said they are “very familiar” or “somewhat familiar” with automatic enrollment in 401(k) plans. A majority (78%) are also familiar with auto escalation. Yet, less than half (42%) reported using auto enrollment in their plans. Even fewer (28%) have adopted auto escalation.
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