In a world where mobile
communications is becoming the order of the day, ING US has
harnessed this trend to encourage employees to enrol in their
workplace retirement plan.
Initial results of the life
insurer’s initiative, which it has dubbed ING iEnroll, are
encouraging.
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Enabling employees to access
ING US’ enrolment centre online at their workplace lies at the
heart of the insurer’s solution. To facilitate this, ING US uses
small laptop computers, so-called tablets, which are made available
onsite. Alternatively, employees can access the enrolment centre
through their own mobile device.
“One of the biggest
challenges our industry faces is getting individuals to take an
important first step by joining their employer-sponsored retirement
plan,” says Rick Mason, president of corporate markets for ING US
Retirement.
“We’re extremely excited with
the initial results from our new programme, especially with small
employers where plan participation rates are typically
lower.”
Based on a six-month pilot
programme, ING US found that 97% of employees attending an ING
iEnroll meeting either enrolled or re-enrolled in their company’s
retirement plan using a tablet during the session.
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By GlobalDataAccording to ING US, the average participation rate among
employees in their company’s 401(k) retirement plan was 82.3% at
the end of 2009.
