Check out these statistics from a recent study that show the impact of auto-enrollment & auto-escalation in employer-sponsored retirement plans:
67% of plans with over $200M have auto features compared to 51% of plans with under $200M
Prior to auto enrollment, 11% of plans surveyed had participation rates over 90%. Post-implementation, 46% had participation exceeding 90%
For the period 2010 to 2016, default savings rates increased to 6% in 28% of the plans surveyed
Think about it! More plans are adding “auto” features. Auto enrollment is improving participation. Auto-escalation is impacting average saving rates.
DCIIA Plan Sponsor Survey, December 2017