Match Made in Heaven®
Increasing Match Program
We have developed an IRS–approved employer match program that allows for increasing the rate of 401k employer matching contributions into tiers of increasing the match, commensurate with the level of savings employees defer into their 401k account. Employees are incentivized to save more, while straight matches to a finite percentage limit employee saving. Flat matching programs (like yours) are always more expensive, with no benefit in return. Employees are wowed by how quickly their savings grow.
The SMarT® Program
Save More Tomorrow is an annual voluntary auto-increase of employee salary or wage deferrals. 63% of employees opt-in, to quickly achieve their savings goals. We have learned through years of behavioral finance research that employees prefer the month of January to make the voluntary auto increase. Typically, employees increase their deferrals by 1, 2, or as much as 3% per year. They can do more if they like, depending on their ability to budget the deferrals in their overall budget.