Ample company contributions

The average company contribution was more than $15,000 per participant.

Copy this idea. A retirement plan's design can offer an attractive benefit for employees-as well as help attract top talent. Does your plan's matching formula need to be recalibrated? If so, try focusing on percentages instead of dollars. For instance, if your plan currently matches 50 percent of your employees' salary deferrals (say, up to 4 percent), try upping that percentage to 100 percent. Another option is to increase the match formula to 50 percent with up to 6 percent of salary deferrals. For a relatively minimal contribution increase, your employees will earn a bump in their retirement savings plan. Plus, this move can help foster job satisfaction, and the business can qualify for a more substantial tax deduction.

No waiting period for plan eligibility

Twenty-six of the top 30 plans offered immediate plan eligibility for new employees.

Copy this idea. Most of us will agree that Americans need to save more for retirement-and almost 90 percent of workers view their 401(k) plan as very or somewhat important to their retirement savings goals. But how can newly hired workers begin to save when they must wait for months or even a year before contributing to a 401(k)? Eligibility (i.e., the amount of time an employee must wait before he or she is eligible to begin contributing) is a savings hurdle that makes sense to lower. Allowing employees to immediately begin deferring a portion of their paychecks gets them saving earlier and committed to the habit of investing in their futures.

Rising target-date funds and index funds usage

Target-date funds (TDFs) represent more than 13 percent of assets for the top 30 plans, and index funds represent 43 percent of assets on the list. Both of these numbers have increased since the prior year.

Copy this idea. TDFs are a professionally managed investment that appropriately allocates the investors' assets according to their projected retirement date. They are a simple, sensible solution for retirement savers of all ages and investment acumen. Index funds have become a more common offering in 401(k) plans due to their lower cost and lower susceptibility to market volatility (relative to actively managed mutual funds).

Just remember: the selection of retirement plan investments is a fiduciary act. Decisions to add, replace, or remove a fund should be made with prudence and diligence, and the decision-making process should be well documented.

Declining fees

Among plans featured on the top 30 list, the average total plan cost dropped 0.22 percent.

Copy this idea. Ensuring that costs are reasonable is a key function of a fiduciary. How do the top 401(k) plans keep costs in check? They regularly benchmark the fees they are paying to their service providers. And so should you!

According to industry experts, a benchmarking assessment should take place at least every two years and not more than three. Of course, the product, mutual fund, or service with the lowest fee is not always the most appropriate. It is the value that you and your employees receive in exchange for that fee that is the crucial part of the equation. Ask your retirement plan advisor to help you get the ball rolling with a comprehensive assessment of your retirement plan fees. You'll likely see the results in your bottom line.

High participation rates and salary deferrals

Participants in the top 30 plans boast a 97-percent participation rate and $14,100 average salary deferral.

Copy this idea. Getting your employees to save for retirement-starting with helping them over the enrollment hurdle-can be a delicate process. Your employees are likely battling internal forces, such as procrastination, inertia, and lack of confidence. These can serve as behavioral barriers for people who are faced with making important decisions.

Auto-enrollment (a feature that automatically enrolls employees into a retirement plan, unless they choose to opt out) could be the answer to help improve your plan's participation rates. You may also consider auto-escalation. For instance, you could automatically increase their salary deferral by 1 percent or more each year. Auto-enrollment and auto-escalation have proven to be significantly effective methods for nudging employees to take positive action toward their future retirement. This is a clear win/win for you and your employees!