With concerns mounting that employees aren’t saving enough for retirement, U.S. employers are making significant enhancements to their defined contribution (DC) plans, now considered the main retirement savings vehicle for most working Americans, according to a survey by Willis Towers Watson, a global advisory, broking, and solutions company.
The survey found more employers are adding “automatic” and Roth design features to their 401(k) plans, boosting employer contributions, streamlining investment choices, and improving fee transparency.
