No matter the organization you’re involved with, getting increased participation is always a big issue. Increased participation by current or new members is a goal whether it’s a trade, religious, or fraternal organization. I was heavily involved in my former Synagogue and increased participation was always a big thing for me as I was in charge of membership related services. Getting more people involved is always a good thing. When it comes to participation in a 401(k) plan, plan sponsors have to a little more than having events that a trade or religious organization may host. Getting participants involved can be difficult, but it doesn’t have to be costly. There are quite a few tools out there to increase plan participation that doesn’t have to cost plan sponsors much money in terms of contributions and plan expenses.
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