Many companies are now offering auto-escalation in their 401(k) plans. With auto-escalation, your contribution level is automatically increased at regular intervals, typically 1% a year, until it reaches a preset maximum.
Another version of this is a program called SMarT, which stands for Save More Tomorrow. Under the SMarT program, employees agree today to increase their 401(k) contribution rate in the future, generally when they receive their next raise. SMarT is an easy, painless way to set yourself up for regular contribution increases that coincide with pay increases, so you don’t feel the pinch of saving more.
If either of these automatic savings options sounds attractive to you, ask your employer whether your plan has an auto-escalation or SMarT feature.