ING says the program, iEnroll, is the expansion of an initiative introduced in the Northeast during the last six months, whereby tablets were used in group enrollment meetings with a select number of 401(k) plan customers. The ING iEnroll program is available to ING's corporate markets customers.
According to industry statistics, the average participation rate in a 401(k) plan was 82.3 percent at the end of 2009, says ING. However, of those attending an iEnroll meeting, nearly 97 percent took positive action by enrolling or re-enrolling in their company's plan using a tablet during the session.
ING says that, during the interactive sessions, enrollment and retirement specialists educate prospective participants on the benefits of saving as well as the investment options available in their retirement plans. These individuals then are able to enroll instantly with access to ING's online enrollment center through a tablet or their own mobile device. Mobile devices offer eligible employees the convenience to enroll when they are at their highest point of interest and engagement with regard to the benefits of participating in their plan, adds ING.
