The options made available by the Pension Protection Act (PPA), which is nearly two years old this week, are steadily gaining a foothold in retirement plans.
According to a recent survey by Plansponsor.com, “some of the most significant provisions relevant to defined contribution plans only just took hold this year.” Thirty-six percent of those surveyed have adopted automatic enrollment as a feature for their plans and 22 percent have adopted contribution acceleration (also know as autoescalation). Many plans have also chosen a Qualified Default Investment Alternative (QDIA). However, only 6 percent of those surveyed have “gone for the whole PPA package”.
NADART offers retirement plans with the automatic enrollment and autoescalation features, as well as additional plan options such as fixed enrollment dates, Roth Contributions and more. And our NADART Fund serves as the QDIA for our plans.
To learn more about our plan features and services, please take a moment to fill out our online Product Information Request Form. Or you can contact one of our Marketing representatives at (800) 462-3278, ext. 7161 or by e-mail at nadart401k@nada.org.