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Guest Article How Can We Get All Of Your Employees To Participate In Your 401k?By Robert R. Julian of Retirement Planning Consultants. His firm works with organizations to help them with their efforts to inform and educate their employees on retirement related issues. For more information, phone 607.255.4405 or email rrj1@cornell.edu. Employers offer a 401k plan because they want to attract and keep talented employees. So, if you are an employer and have one, why not strive to get as close to 100% participation as possible? In my 30 or so years of communicating and educating individuals on how to plan - save - invest for retirement, I have found that almost all of the people who don't participate in their employers plan are the people who don't feel that they can afford to participate----"Hey, I have enough trouble paying all my bills with every paycheck and you want me to take money that I don't feel I can part with and put it in my 401k. You've got to be kidding." I was one of those employees many years ago. I felt the same way. And one of the greatest pieces of advice that I received during my working career was to make a commitment to myself. And, the commitment was this.....I will start small...I will put aside just $1 a day...I will try to invest it wisely...and, I will see what happens. And what happened was that I saw results. I have given this same advice to many, many participants in my workshops and presentations and I cannot tell you the number of people who have come to me later and said, "Thank you. I have taken your advice, started small and now I think I can make it---I can develop a retirement nest egg that will be there for me when I retire." I can't tell you how good that makes me feel. So, Mr. Employer, what are you going to do? Are you just going to say---"Well, we have tried to reach this small group of employees who don't contribute and there's nothing we can do about it"---or are you going to say---"We've had this experience before but we am going to make a commitment to them and say---"I think we can do better and we're going to try." Your 401k is or can be one of the greatest benefits you provide to your employees. Is it working its "magic" for all of them? Other articles by Robert Julian: The Realities Of Retirement: Different Today Than They Were In The Past. ### 401khelpcenter.com is not affiliated with the author of this article nor responsible for its content. The opinions expressed here are those of the author and do not necessarily reflect the positions of 401khelpcenter.com. This article is for informational and educational purposes only and doesn't constitute legal, tax or investment advise. | ||||
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