Increasing Employee Participation Biggest Challenge For Plan Sponsors
Financial Advisor IQ cites new research from Voya Investment Management showing that “the biggest challenge for plan sponsors ... is increasing employee participation and contribution levels.” According to Voya, “some 28% of sponsors of both small- and medium-sized plans polled said participation was their biggest challenge, while 27% of large plan sponsors agreed.” Second on the list was educating employees about retirement and investment issues, “an area where good financial advisors can stand out from the crowd.”