Top five questions plan sponsors have about 401(k) s (and the answers)
Get in their grill
The single biggest factor to increase savings is to put the participant’s projected retirement income calculated as a percentage of an annual salary on all plan communications. J.P. Morgan found that participants’ average income replacement ratio rose from to 77% from 65% and the percentage of participants on track to achieve enough to sustain retirement rose to 44% from 29%.
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