Make 2015 the year you increase retirement plan participation and reduce your company's fiduciary risk. ADP^® offers the following tips for employers to help make the most of their company's plan (see the expanded version in this infographic):

• Conduct a due diligence analysis
  of your plan's fees. You may spot opportunities to reduce them.
• Review the health of your plan
  by examining savings rates by gender and age. See how participants are allocating their savings.
• Optimize your plan by offering
  automatic options such as automatic enrollment, automatic rebalancing, and automatic deferral increases.
• Review your compliance testing
  results to make sure there are no
  unwelcome surprises in 2015.

The following tips can help you encourage employees to boost their retirement savings (also available in an expanded infographic):

• Encourage incremental increases. For example, if employees saved 4% of their salary in 2014, encourage them to bump it to 5% in 2015.
• Tell employees how they can save even more with your help. If your plan provides matching contributions, remind them.
• Suggest that they speak with a professional. Research shows that using a professional investment advisor improves an investor's confidence level in retirement decisions. If your plan provider offers this feature, urge employees to take advantage of it.
• Send reminders. Help employees stay on track by sending mid-year reminders to increase their 401(k) contribution.
• Alert employees that they may be eligible for catch-up contributions. Workers age 50 and older can contribute as much as $24,000 to a 401(k) account in 2015. That's $6,000 more than younger workers.