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The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Friday, October 19, 2007 How McDonald's Brought Minorities into the Retirement Savings Net In today's Wall Street Journal Fund Track column, Jilian Mincer focuses on efforts by McDonald's Corp. to increase participation of minority employees in the fast-food giant's 401(k) plan. Four years ago, half of black restaurant managers participated in the 401(k) plan, and retirement savings by McDonalds' managers overall, a group weighted to minorities and women, was low. White store managers, meanwhile, had a "modestly higher" participation rate. Fast-forward to the present: 95 percent of African-American store managers make contributions to the plan. As for white managers, the participation rate increased to nearly as high. McDonald's success story came as a result of a series of actions, including including the implementation of automatic enrollment for store managers and providing them a one-time raise of 1 percent to contribute to the plan unless they opt out or go for a higher contribution rate. Printed from: MFWire.com/story.asp?s=16161 Copyright 2007, InvestmentWires, Inc. All Rights Reserved |