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Welcome to the TRAK Retirement Planning Blog
Helping Advisors prepare their clients for retirement since 1986.
Article Topic
401(k) Participant Education
Industry Giant Vanguard Releases DC Plan Report
Last week Vanguard released its report How America Saves 2017 (removed by vanguard pressroom, archived copy provided). Some of the most interesting pieces of the report centered on data on the increase in automatic 401(k) features such as auto-enrollment and...
U.S. Census Research Reveals Horrible 401(k) Statistics
There have been a number of surveys and reports lamenting the atrocious state of retirement readiness of the average American worker. Unfortunately, the situation is much worse than we all thought. As reported by Bloomberg, recent research by the U.S. Census Bureau...
How to Get Participants to Increase Contributions
The introduction of auto-enrollment features in retirement plans has increased plan participation; however, studies have shown that contribution levels have not increased. In fact, almost a third of employees contribute only enough to get the employer’s matching contribution.
Grow Your Business with Retirement Readiness
“Participant education doesn’t help advisors grow their businesses.” It was an unsolicited objection from the audience of financial advisors. Not being an advisor, I winced and tried to figure out how I, an armchair quarterback, was going to respond. Telling a group...
3 Ways to Engage Participants in 401(k) Education
If Ben Franklin had to hold 401(k) education meetings, surely he would have had participants leaning forward in their chairs. So why do many 401(k) advisors struggle with participant education? It’s because most advisors fail to make these sessions interesting. And...
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