More employers are expanding their 401(k) plans, according to an Association Press article on msnbc.com. Companies are adding features such as automatic enrollment, more investment options and increased matching contributions in an effort to meet employee demand.

The article cites one company in particular, Ariba Inc., of Sunnyvale, CA, which made several improvements to its 401(k) – matching contributions up to 6 percent, automatically enrolling employees, plus adding a Roth 401(k) option and target dated funds. In 2 years, it saw its retirement assets increase 60 percent.

 Additionally, in a survey conducted by Charles Schwab Corp., 84% of respondents agreed that a 401(k) plan is necessary for recruiting and retaining a high quality work force. Sixty-seven present also said they believed offering a 401(k) plan contributes to a company’s corporate success, while 58 percent said it contributes to a company’s long-term financial success.

 NADART helps its retirement plan sponsors attract and retain high quality employees by offering many features mentioned in the article such as automatic enrollment, target dated funds, and the Roth 401(k) option. If you would like to learn more about these features, contact a NADART representative at (800) 462-3278, ext. 7161 or e-mail nadart401k@nada.org.