Retirement for Everyone
Family Business
A closely held family business wanted to drive retirement readiness for its 500 employees beyond the company’s profit sharing plan, but questioned how much its hourly wage employees would participate in a 401k program. While adding a deferral option, we designed and implemented an on-site communication strategy on retirement planning for all employees, from senior management to hourly wage employees.
The results were more than 85% participation, with a participation rate for the hourly wage employees equal to the participation rate for the management team. Not only will this help management and long-term staff, but it will also set hundreds of hourly wage employees on the road towards a secure retirement.