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Pushing the Auto Escalation Envelope
Human Resource Executive Online Link to more items from this source
Aug. 7, 2014
"A recent survey suggests that employees may be more receptive to automatic defined-contribution increases than some employers think.... 55 percent of 7,545 retirement plan participants surveyed said they would favor automatic annual increases to their defined-contribution retirement plans.... [T]here are two ways to offer such a program: 'opt-in,' which means employees must actively sign up, or 'opt-out,' which automatically launches escalating deductions until an employee decides to quit.... [T]he opt-out feature has a high participation rate when compared to opt-in.... [P]eople typically learn to live with net incomes, so if employers can time the escalations with annual raises, that makes it even more attractive."

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