A recent article from the March 2015 Employee Benefit News outlines areas plan sponsors can focus on to improve participant participation.  The article notes that how you phrase the company match to participants matters.  Principal Financial Group reported that those employers that matched 100% up to 2% of pay had total average contributions among its employees of 8.8% but employers that phrased their match as 25% up to 8% of pay had average employee contributions of 9.1%.  Both phrasings result in the exact same amount of match from employers but the later requires increased contributions from employees to receive the full match.

Has your plan considered modifying their matching formula to motivate participants to save more?