BPAS Partner Conference- Key Takeaways from Paul Neveu

Automatic enrollment has shown a measurable increase in participation rates, especially among plans with employer contributions

increased automatic enrollment and automatic escalation online enrollment fiduciary service models proliferation of collective investment funds full fee transparency DB/DC combo plans due to higher marginal tax rates increased focus on “Key Success Indicators” safe-harbor plans payroll provider integrations push for greater participant engagement (education, advice, gamification, personalized sessions) stretching out matching contributions to encourage higher deferral rates.

Not enough participants are enrolled in their plan not enough participants engaging with their plan, web log-ins, usage of tools, etc… majority of participants are NOT on track to be able to retire with accumulated savings of at least 10X their salary. Partners are encouraged to take advantage of the Partner Toolbox for a number of tools to help them succeed. The newly released Retirement GAP Report can help partners communicate a Plan’s current success metrics in providing meaningful participant outcomes. BPAS currently has the largest and most competent sales / relationship management team in its history.