{"id":6864,"date":"2023-07-10T16:03:48","date_gmt":"2023-07-10T20:03:48","guid":{"rendered":"http:\/\/therosenbaumlawfirm.com\/blog\/?p=6864"},"modified":"2023-07-10T16:03:48","modified_gmt":"2023-07-10T20:03:48","slug":"automatic-enrollment-works","status":"publish","type":"post","link":"https:\/\/therosenbaumlawfirm.com\/blog\/?p=6864","title":{"rendered":"Automatic Enrollment works"},"content":{"rendered":"<p>When the Internal Revenue Code was amended in 2006 to add Automatic Enrollment with fiduciary protection, I was for it. If we could get participants to save passively, maybe they would decide to be active participants and increase their contributions.<\/p>\n<p>According to a Vanguard survey released, participation rates in 401(k), or which Vanguard serves as record keeper have reached an all-time high of 83%. The survey showed that automatic enrollment allows easier chances for retirement savers. Nearly 58% of plans, and 76% of plans with at least 1,000 participants, have adopted this automatic enrollment.<\/p>\n<p>The study said that nearly a quarter of participants saved at least 10% of their income for retirement and the average deferral rate hit a historic high of 7.4%.<\/p>\n<div class=\"sharedaddy sd-sharing-enabled\"><\/div>\n<p><span class='st_sharethis' st_title='{title}' st_url='{url}' displayText='ShareThis'><\/span><\/p>","protected":false},"excerpt":{"rendered":"<p>When the Internal Revenue Code was amended in 2006 to add Automatic Enrollment with fiduciary protection, I was for it. If we could get participants to save passively, maybe they would decide to be active participants and increase their contributions. &hellip; <a href=\"https:\/\/therosenbaumlawfirm.com\/blog\/?p=6864\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n<p><span class='st_sharethis' st_title='{title}' st_url='{url}' displayText='ShareThis'><\/span><\/p>","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/6864"}],"collection":[{"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6864"}],"version-history":[{"count":1,"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/6864\/revisions"}],"predecessor-version":[{"id":6865,"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/6864\/revisions\/6865"}],"wp:attachment":[{"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6864"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6864"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6864"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}