Defined contribution plans incorporated stronger automatedfeatures in 2015, and other changes are helping plans to evolve so that theybetter meet employee needs.
Those are some of the findings in Aon Hewitt’s 2015 Trends &Experience in Dened Contribution Plans survey, which found thatcompanies are encouraging employees to save more—not just byautomatically enrolling them but byother steps that boost participation and contributions.
The study found that 52 percent of companies with automaticenrollment have a default rate of 4 percent or more, up from just39 percent in 2013, and 51 percent of plans that have autoenrollment default workers’ contributions at or above the matchingfunds rate.
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