3 low-effort events to increase 401(k) participation
Lunch and learns, drop-in office hours, and sign-up sprints are three low-lift events that help employees enroll and contribute to their 401(k).
Most employees know they should save more for retirement. The problem isn’t awareness, it’s taking action. Busy schedules, confusing jargon, and competing financial priorities often mean their future needs can fall to the bottom of the to-do list.
The good news? You don’t need a financial wellness conference or a big budget to change that. A few thoughtful touchpoints can give employees the context, confidence, and nudge they need to enroll in their plan or start contributing more.
Here are three easy, low-lift event ideas you can pull off with minimal planning and still have a meaningful impact. Don’t take our word for it: Hear from a Betterment at Work plan sponsor below!
Lunch and learn: Make the most of your 401(k)
Host a casual lunch and learn where employees can grab lunch and get a simple walkthrough of how the company’s 401(k) plan works. Someone on your HR team should cover how to enroll, how much to contribute, what "employer match" means, and how to pick an investment approach—even if you’re brand new to saving for retirement. Be sure to leave time for a Q&A, too.
401(k) open office hours (drop-in Q&A)
Set aside 30–60 minutes for drop-in office hours—either in a conference room or via Zoom—where employees can ask one-on-one questions about the 401(k) plan. There’s no formal presentation: People can pop in for a few minutes to get help with things, like increasing their contribution rate, turning on auto-escalation, or understanding vesting and eligibility. This format is great for employees who are hesitant to ask questions in a large group and want personalized guidance in a low-pressure setting.
Enroll and earn: 401(k) sign-up sprint
Run a time-boxed enrollment session where employees are encouraged to bring their laptops or phones and complete 1–2 specific actions on the spot: Enroll in the plan, set or increase their contribution rate, or update beneficiaries. Kick it off with a 10-minute overview of the key benefits (tax advantages, match, automatic investing), then give employees time to complete those tasks live, with HR available to help. Sweeten participation with a small perk (snacks, coffee gift cards, or a raffle) and follow up with a recap of how many people took action to highlight the impact.
Putting it into practice
Benjamin Hwang, COO of Reload Physical Therapy and Fitness, has used the "Lunch & Learn" format.
"We’ve found that a simple Lunch & Learn goes a long way. We keep it casual, so people can ask things they may have been wondering about. More likely than not, someone else in the room has the same question. Once they hear how other people are doing it, it becomes less intimidating to get started."
Resources and next steps for plan sponsors
Head to the Resources tab in your plan sponsor dashboard to get documents you can download and share with your team at these events. Employees also have access to our financial planning hub, where they can claim their account, learn more about investing, and start saving for the future.
Interested in bringing a Betterment 401(k) to your team? Get started here.