Open enrollment is the perfect time to bring the company retirement plan top of mind for employees, as well as help them stay on target for saving. (Photo: Shutterstock)
During open enrollment, employers typically focus on benefits like health care, dental and group life insurance, but there is an overlooked area left out of these discussions and materials: retirement benefit information.
Once an employee elects to contribute to the retirement plan, they do not need to re-elect to be part of the plan moving forward.
However, I would argue that inertia, the tendency to remain unchanged, is a universal problem with retirement accounts, and employers are missing an opportunity to promote their great retirement plan benefits during open enrollment and get the plan top of mind for employees.
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