How do you solve, for example, the problem of integration between the payroll software and the 401k recordkeeperâs website?
Tag "401k"
“I was [once] a major skeptic of the use of annuities, I have subsequently changed my mind regarding the efficacy of low-cost fixed and variable annuities in both personal and retirement accounts.”
A few years ago, this might have been classified as a common âmistake.â Again, âmistakeâ is in quotes because this is less an issue for certain plans (usually small firms or particular industries) than others.
But this rookie mistake doesnât bypass veteran plan sponsors. If theyâve grown too complacent with their plan, they may wake up one day to find out theyâve got a dinosaur on their hands.
Retirees should think for themselves and what alternatives they have regarding their retirement assets. These arenât the same as they were when they were working.
As with many things, hands-on instruction is generally the best way to achieve this, especially if you make it into an engaging workshop thatâs all about the employee and the employeeâs dreams, not about the plan.
Thereâs a fear that those rushing to promote their own PEPs are merely trying to return to the bundle service provider environment the industry evolved away from more than a decade ago. This makes due diligence all the more important.
Just as these changes come bearing down, so, too, does a need for greater hand holding. Pressures within the provider industry, however, appear to be reducing the number of available hands.