More and More Companies Auto-Enroll Employees In 401(k) Plans

Nearly half of U.S. companies are auto-enrolling their employees into their 401(k) plans in order to encourage them to save for retirement according to a recently released survey conducted by Watson Wyatt.

The survey found that 47% of the companies that responded auto-enroll their employees. In addition, one third of the companies that don’t auto-enroll are considering doing so.

The Pension Protection Act of 2006 authorized automatic enrollment into 401(k) plans.