Automatic Enrollment a Win-Win


A study by Retirement Made Simpler, a coalition formed by the AARP, the Financial Industry Regulatory Authority and the Retirement Security Project (RSP), found strong employee approval of automatic enrollment in employer-sponsored retirement plans.


Employees surveyed were nearly unanimous in their support of being automatically enrolled—98% were happy their employer offered the savings vehicle. Most respondents felt the programs made saving for retirement easier (95%), and 85% thought it helped them start saving for retirement earlier than they originally planned.

Of those automatically enrolled, only 7% opted out of the plan.

According to RSP, companies using automatic 401(k)s typically see participation rates between 85% and 95%, in addition to increased participation among young, minority and lower-income workers.

Source: Financial Industry Regulatory Authority, www.finra.org .

SPONSORED REPORT

Revenue recognition: A complex effort

Implementing the new standard requires careful judgment. Learn how to make significant accounting judgments and document them and collaborate with peers for consistent application.

TECHNOLOGY Q&A

How to create maps in Excel 2016

Microsoft Excel 2016 has two new mapping capabilities. J. Carlton Collins, CPA, demonstrates how to make masterful 2D and 3D maps in Excel 2016.

QUIZ

News quiz: Economy and health care changes top CPAs’ list

CPA decision-makers’ economic outlook and the House Republicans’ proposed tax changes as part of replacing the Patient Protection and Affordable Care Act received attention recently. See how much you know with this short quiz.