How can I better promote the 401(k) plan to encourage additional participation?
The plan should be first promoted at a mandatory employee meeting, during office hours. The following methods for promoting the 401(k) plan should also be considered: person-to-person contact, using promotional materials, obtaining employee feedback. You may also consider adding a matching contribution or increasing the match and improving the plan to better meet participants’ needs by adding a loan provision, hardship provision, additional investment alternatives or through several other plan enhancements.
