FREEDOM ONE'S AUTO PILOT PROGRAM CASE STUDIES

Asset Acceptance Corporation, located in Warren, Michigan   

The Challenge:  It was important to the management team at AACC to get everyone participating in the 401(k).  Freedom One provided a consultative approach to: 

• Increase participation through automatic enrollment

• Keep deferral rates healthy

• Move participants toward better asset allocations

The firm’s approach was to automatically enroll every eligible employee every year, requiring those who aren’t participating to reconsider their decision each year.  “One of my roles is to communicate to our associates the need for retirement planning at an early age and encourage participation in the plan,” said Robert Doetsch, Corporate Relations Manager of AACC.  “Forming the habit of contributing is essential and the direction we’ve received from Freedom One has been instrumental.”

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Chas Roberts, located in Arizona

The Challenge:  Chas Roberts needed help to take their participants to and through retirement to reach their goals.  The majority of employees work in the field and have difficulty finding a reason to come back to the main office after being on the road all day.  In addition, many of the participants who had declined participation in the past had been people who spoke only Spanish.

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MTS Seating, located in Temperance, Michigan

The Challenge:  Employees at MTS Seating fell right in line with the endless amount of studies conducted proving that American workers experience inertia and procrastination toward their retirement savings.  Many of their employees are young and it's difficult for them to understand the benefit of saving for retirement at an early age.  Long-term employees wish they had starting saving when initially eligible for the plan.

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