Does your 401(k) plan look out for you?

You’ve done the research and you’ve seen the statistics. More than 40% of full-time employees do not have access to a 401(k). You’ve made a promise that you and your employees are going to be one of the 60%-ers. You’ve found a plan that you think will work for you and you’re fired up and counting down the days when you can make that first contribution and “officially” begin your road to retirement.  But, does your new 401(k) plan look out for YOU? Here’s how you can tell if your retirement savings plan has your back – Look for:

Retirement Calculator

It's not just about fund performance and account balances. It's about understanding how much time your money is buying. And that's where a 401(k) service should start – giving you the tools to buy the time you need for your retirement. Like a years-of-retirement calculator so you and your employees will always have a clear picture of how much retirement you’re actually buying, making it easier for you to stay the course.

Automatic enrollment

Signing up for the plan should be easy. Auto-enrollment is a simple way to eliminate any psychological barriers. This works because signing up is done for you and your employees and it requires forms to be filled out to opt-out of joining the plan.

Automatic investment

Not sure what to invest in? An automatic investment option defaults people based on age into the appropriate risk-based model. It also increases the probability retirement savings goals are reached because when people choose their investment options themselves, they tend to make the wrong choices.

Automatic alerts

A few 401(k) plan administrators go the extra mile. Auto alerts focused on event-based messaging are sent out to participants to help them stay on track. Decisions that affect retirement are tracked and monitored, keeping participants in the know on their retirement goals. 

There are 401(k) plans out there like PAi’s CoPilot that make it easier for you to understand and work toward your retirement goals. With CoPilot, you’ll be matched with investments that fit your needs. Your investments will be monitored for performance and you'll receive real-time messaging whenever an event occurs that will impact the health of your retirement. And you'll always have a clear picture of how much retirement you're actually buying, because CoPilot translates your savings into what matters most - how many years you can afford to be retired.

>>Click here to see how CoPilot has your back. 

Citation:  Pew Charitable Trust Chartbook, 1/2017. Project website:

Ryan Voss - Digital Marketing Manager - - 800-236-7400 X3345

Ryan is a subject matter expert on data and analysis within the retirement savings industry.