business man and woman looking at papers To make meaningful change in the retirementindustry, advisors and sponsors can work together to putthe needs of the participant first and help them achieve retirementsuccess. (Photo: Shutterstock)

"When a flower doesn't bloom, you fix theenvironment in which it grows, not the flower. __Alexander Den Heijer

Much like flowers need the proper environment to bloom, 401(k)plan participants need the right plan to thrive and achieve asuccessful retirement. Retirement plans need to be modernized toconsistently provide the structure for success, and enhancing thetax deferred contribution benefits of the 401(k) is key. This isrooted in four areas:

  1. Plan design strategies: Utilizing automatic enrollment andprogressive savings escalators
  2. A focus on retirement readiness and outcomes: Shifting the plansponsor oversight focus from fees and funds to meaningful results –participant retirement readiness
  3. Thinking outside of the retirement box: Embracing other QDIAalternatives, such as managed account solutions
  4. Facilitating a better process: Making it EASY for both theparticipant and plan sponsor

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

  • Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and events
  • Access to other award-winning ALM websites including and

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.