401a Enrollment Communications

About the Program

Category: Personnel Management, Employment and Training (Best in Category)

Year: 2017

In 2015, millennial employees participated in the County’s 401(a) retirement plan at a rate of 22 percent, compared to 29 percent and 32 percent for Generation X and baby boomers, respectively. Without the option of automatic enrollment, the Deferred Compensation Program began exploring ways to boost millennial participation. In 2016, the Deferred Compensation program revised its 401(a) procedures and communications materials. Print materials were eliminated in favor of electronic communications, lengthy text was reduced, images of County employees were incorporated and Deferred Compensation staff began making reminder phone calls prior to the enrollment deadline to convey a sense of urgency. Because of these efforts, 48 percent of millennial employees hired in 2016 enrolled in the 401(a), increasing the 401(a) participation rate for millennial employees from 22 percent to 27 percent. Even more impressive, 660 employees across all age groups enrolled in the 401(a) plan in 2016, resulting in a 28 percent increase over the prior year.