Employees commit to incremental annual increases in their savings rate, generally timed to coincide with merit reviews. Behavioral research indicates employees arent saving enough for retirement, but they are more likely to increase 401(k) deferral amounts if they coincide with a salary increase, Wachovia said.
The professional investment advice is provided by Wachovia based on specific fund allocations made by
The plan differs from other currently available products and services because it combines two features: expert portfolio management and savings rate management, the company said.
