5 Steps to Help Boost Your Employer-Sponsored Retirement Plan

When you think about retirement, what comes to mind? For some people, it’s freedom; more time with family, the ability to travel or finally pursuing hobbies that got crowded out by career and caregiving. For others, it’s knowing specifically where your money will come from after you leave the workplace. For many people, their employer-sponsored retirement plan is an important piece of the puzzle. 

But no matter where you are in your retirement planning journey, taking time to learn about your plan, understanding your retirement roadmap and considering your future is well worth it. 

By choosing to participate in an employer-sponsored retirement plan, you’ve already chosen a powerful tool available to help support a fulfilling life, both today and in the future.  

So, congratulations! You’ve already taken the hardest step: getting started. 

But what’s next? Below are five simple ways to help you understand and leverage your retirement plan more intentionally, so it works harder for the life you want to build.

1. Learn what your retirement plan offers

Many people enroll in their employer-sponsored retirement plan, then never take a closer look. But understanding the basics of your plan now can make a meaningful difference over time. 

Start with a quick review of the key elements of your plan. 

• Does your employer offer a percentage match for your contribution? If so, you absolutely should consider increasing your contributions to take advantage of the full match percentage. Your company is essentially rewarding you for planning for your future! 

Learn more: How to Maximize Your 401(k) Employer Match 

• Is all your information up to date? Double check that your allocation amounts and account information are accurate, and especially that your list of beneficiaries is correct. Your beneficiary designation—not your will—typically guides who receives your account funds in the event of your death. So, keeping your retirement account beneficiaries up to date helps ensure your savings are passed on according to your wishes, without unnecessary delays or complications for the people you care about. 
• How can you contribute? For many employees, contributions are directly deposited by your employer prior to any tax being applied (i.e., pre-tax contributions). However, some companies accept only post-tax contributions or allow a combination. Review your plan or talk to your administrator to understand what contribution types are available and which might be best for you.
• What’s your vesting schedule? While your employee retirement plan contributions are 100% yours from day one, employer contributions to your account may not be fully available to you until after a certain number of years of service. This schedule, usually called a vesting schedule, is detailed in your plan document.  
•  What educational resources and planning tools does your company offer?  Most organizations that offer a 401(k) plan for their employees understand how critical financial education is. Take the time to research the tools and learning resources your company offers. 

Your retirement plan is part of your overall compensation. Taking the time to understand its features helps ensure you’re capturing the full value of a benefit your employer has invested in for you.

2. Check your contribution details

Financial confidence starts with awareness—especially when it comes to how much you’re saving. 

Ask yourself a few simple questions: 

• Am I contributing enough to receive the full employer match, if one is offered? 
• Has my contribution kept pace with raises or income changes? 
• Do I know where my contributions are going, or what my investment allocations are? In some cases, you can tailor your contributions to go toward investments that align with your values and social interests.  

Even small adjustments can have a meaningful long-term impact. For example, if you’re early in your career, you may wish to contribute 15% of your salary to your retirement plan (including any employer match), or as close to the maximum allocation as you can. Thanks to the power of compounding interest, incremental increases made earlier in your career have the potential to grow over time.

Even later-career savers can benefit from reviewing and adjusting contributions as finances allow. By taking advantage of IRS‑approved catch‑up contributions, which allow workers age 50 and older to contribute more than the standard annual limits to their 401(k) or IRA, you’re taking the steps to help ensure that you enjoy a more secure financial position throughout your retirement years. 

To better understand how your contributions today will impact your retirement and create a plan that’s tailored to your specific needs, consider working with a financial professional. 

3. Understand how your investments work (at a high level)

You don’t need to be an investment expert to be an effective retirement saver. That said, having a basic understanding of how your money is invested can help you feel more confident about your choices. 

Want to learn more? These concepts are an excellent place to get started.  

• Diversification: Spreading investments across different asset types to help manage risk. 
• Time and compounding: Giving your investments time to grow can amplify the impact of consistent saving. Compounding interest can have an impact on wealth building. 
• Risk and time horizon: Your investment needs may change as retirement moves closer. 

While we’re on the topic of time horizons, many plans offer target date funds, which automatically adjust over time based on an expected retirement year. These options can be a simple, hands-off way to stay aligned with long-term goals, especially if you prefer built-in guidance.  

It’s never too late (or too early!) to learn more about your finances. To get started, check out this article by the Department of Labor on what you should know about your retirement plan.   

4. Use plan tools to see the bigger picture

One reason retirement planning can feel abstract is because account balances don’t always translate easily into real life. That’s where plan-provided tools can help. 

Depending on your plan, you may have access to: 

• Retirement income calculators. 
• Personalized dashboards showing savings progress. 
• Educational videos, webinars or articles. 

These tools are designed to help you connect today’s actions with tomorrow’s income. Seeing how your savings strategy could support your future lifestyle often makes planning feel more concrete and motivating. 

Ameritas offers easy-to-understand educational content, including the Retirement Smarts video series, created to help participants build confidence and take small steps forward.

5. Turn knowledge into one simple action

Now it’s time to put what you’ve learned to work! Rather than trying to do everything at once, focus on taking one small, manageable step, such as: 

• Reviewing your account dashboard to understand where you stand today. 
• Double checking your list of beneficiaries and making sure it’s up to date. 
• Exploring one planning tool or educational resource offered through your plan. 
• Setting a calendar reminder to revisit your retirement strategy once a year. 

Taking small steps helps you build confidence over time. By acting with intention and keeping your focus on your retirement goals, you’ll not only have the potential to improve your financial position today, you’ll also develop habits that support smart decisions for a lifetime. Read our blog for more tips: 3 Key Retirement Strategies Beyond Start Saving Young. 

A stronger foundation for a fulfilling life 

Your retirement plan is more than a long-term savings account—it’s a foundation for the life you’re working toward. By understanding your plan, reconnecting with your goals, and taking one simple step forward, you can build momentum that lasts for years. 

Spend a few minutes exploring what your plan offers. The future you envision may be closer than you think. 

FAQ: Retirement readiness questions 

1. If retirement feels far away, does it really matter what I do now?
   Yes. Even small choices made today—like understanding available plan tools or monitoring contributions—canhave the potential for a meaningful long-term impact, thanks to time and compounding. 
2. Do I need to be knowledgeable about investing to use my plan effectively?
   No. Many plans offer built-in options, such as target date funds and educational resources, designed to provide guidance without requiring advanced investment knowledge.
3. What’s one simple thing I can do if I feel overwhelmed?
   Start by logging into your account and reviewing your dashboard. Getting a clear snapshot of where you are today is often the easiest—and most empowering—first step.
4. How often should I review my retirement plan?
   At minimum annually, but also after major life changes like marriage, children, jobchanges or salary increases. 

Disclosures 

Representatives of Ameritas do not provide tax or legal advice. Please refer clients to their tax advisor or attorney regarding their specific situation.