When creating a 401(k) engagement strategy, don't forget those who aren't in the plan.

Research says
Research says many nonsavers opt out of or fail to enroll in one of their "must-have" benefits—their company's 401(k) plan. What approaches can increase enrollment?

Challenge
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77% of nonsavers say they would use a financial wellness program if it was offered by their employer.*
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Many employees want to take control of their finances but don't know where to start.*
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30% of nonsavers have experienced financial stress that affected their job performance.*

Approach
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Introduce a program with financial tools, education, and resources.
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Engage employees with financial wellness activities that help them understand they can save for the future.
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Give employees the tools and resources needed to meet the financial challenges that most often create stress.

Impact
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Employees have the opportunity to navigate their finances, create a budget, and develop savings strategies.
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Employees can build skills in prioritizing bills, managing debt, and saving for the future.
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Employees may become less stressed, more focused, and happier.
Need help with your plan design?
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Need help with your plan design?
Contact Schwab Retirement Plan Services at 877-362-0410 or visit schwab.com/retirementplanservices.