Automatic enrollment & decreased waiting periods

[Sheila K]

Has anyone had any experience with automatic enrollment with your 401(k) plan? I'm reading a lot about it, but haven't actually "met" anyone doing this? I'd be interested in your experiences...

Also...we are contemplating changing our waiting period from 12 months to 6 months. Any pointers or cautionary tales???

Thanks in advance!

Sheila K

602 683-1013

[Guest]

because you can use statutory exclusions, changing waiting period shouldn't matter unless the plan is top heavy. then you would have to provide minimum benefits for more people.

[Kirk Maldonado]

There are several surveys that show that negative enrollment really works. Check prior message threads for leads. I think that one of them was done by the Profit Sharing Council or an organizations with a similar name.