Ohio Deferred Compensation - Make retirement easier for your employees-auto enroll them in Ohio DC

Make retirement easier for your employees-auto enroll them in Ohio DC

Make retirement easier for your employees: auto enroll them in Ohio DC!

Eighty-five percent of employees say they are not saving enough for retirement, according to the Bank of America Merrill Lynch Employer Benefits Report. Help your employees become retirement ready by participating in Ohio DC’s automatic-enrollment program.

Automatic enrollment is a feature that allows you, the employer, to “enroll” newly hired eligible employees in Ohio DC. “Enroll” in this context means that after a 90-day opt-out period during which time the employee can decide to cancel their enrollment, part of the employee’s wages are contributed to an Ohio DC account established on the employee’s behalf.

Inertia is a powerful force affecting employees when it comes to retirement planning. Automatic enrollment attempts to turn inertia into a positive force for employees. While inertia may preclude some employees from enrolling in our Program, that same inertia will stop most participants from opting-out of auto enrollment, benefiting them in the long run. Data from a recent automatic-enrollment pilot program shows that more than 90 percent of new hires remained enrolled after the 90-day opt-out period or choose to enroll immediately in Ohio DC.

Join other employers already participating and help your employees secure their financial future. For more information, email us at ohio457@nationwide.com.