Ways to Encourage Workers to
Contribute to a Retirement Plan
TASBO Strategic Partner, AXA, Provides Some Guidance to Build Confidence in Retirement Savings
According to the 2015 Retirement
Confidence Survey1 employees who
participated in a retirement plan are
much more likely to feel very confident about having enough money for
retirement.
As an employer, you can’t force your
workers to contribute to your retirement plan. But you can encourage
them to participate by offering an
effective savings plan. Here are a few
ways you may be able to enhance
yours:
• Offer your employees multiple ways
to enroll – in person, over the phone
or online – so they can find a way
they’re comfortable with.
• Provide investments that are automatically diversified, like asset
allocation portfolios. Putting the decision-making in the hands of professionals can help put your employees
on the path to retirement readiness.
• Add an option to your plan that lets
your employees generate retirement
income. Saving for retirement is not
enough. Your plan participants need
to turn their savings into lifetime
income once they retire.
• Segment your education efforts and
messages, so that you can reach employees who are in different phases of
their lives.
• Offer access to financial professionals. According to a recent survey2,
plan participants who work with a
financial professional save more, are
better diversified and feel more confident in their financial futures.
1 Source: Employee Benefit Research Institute
2 Source: AXA Enhancing Outcomes Advisor
Value Study, 2015
GE-112080(3/16) (Exp. 3/18)
”Lifetime income” can be provided by an annuity, a long-term financial product that is designed for retirement purposes. Annuities are
subject to insurance-related charges, including
mortality and expense charges, and administrative fees. Withdrawals of taxable amounts
are subject to ordinary income tax and, if taken
prior to 591/2, a 10% federal tax penalty may
apply.. Annuities contain limitations and restrictions. For costs and complete details, contact
a financial professional. Investment options in
variable annuities including asset allocation
portfolios are subject to market risks, including
the possible loss of principal.
Please consider the charges, risks, expenses
and investment objectives carefully before
purchasing a variable annuity. For a prospectus
containing this and other information, please
contact a financial professional. Read it carefully before you invest or send money.
AXA Equitable Life Insurance Company (New
York, NY) issues annuity products. Variable
annuities are co-distributed by affiliates AXA
Distributors, LLC and AXA Advisors, LLC (members FINRA and SIPC).
TASBO Commitment to
Excellence Award
Each year, TASBO awards its highest individual honor – its Commitment to Excellence Award – to the member who best distinguishes
themselves within their profession, within their district and within
TASBO. TASBO will recognize the recipient and two finalists at TASBO
Annual Conference during the Awards Luncheon.
On behalf of the recipient and finalists, each year TASBO donates to the
TASBO Scholarship Fund. In addition, TASBO Strategic Partner AXA
will generously provide a donation of $3,000 to the recipient and $1,000
to each of the finalists for programs in their home district.
Nominate a colleague, direct report or fellow TASBO member online at:
www.tasbo.org/commitment-to-excellence
Sponsored by:
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TASBO REPORT | AUGUST 2016