This doesnât mean you shoot haphazardly for the stars when you can have the moon. After all, youâve got to know your limitations. Seeking unreachable goals will only make your retirement seem hollow and pointless.
Tag "plan participant"
If youâre a fiduciary of the acquiring plan, you want to make sure youâre not burdened with any unknown liabilities. If youâre a fiduciary of the acquired plan, you want to make sure the merger process doesnât introduce new liabilities.
Itâs not just plan sponsors and plan participants that need convincing. The entire retirement plan infrastructure must also get on board. That doesnât mean the hurdles canât be overcome.
The decision to retain and service company retirees appears (at first blush at least) to be a no-brainer. But that includes a very important assumption.
Clearly, you wouldn’t pay more for 2 apples if you could get 3 for the same price, but would you pay more to get 2 oranges instead?
Perhaps itâs time to cut the cord of âfinancial wellnessâ and take your tonic of financial reality. Accept the schoolmarm for the discipline she brings, because that remains the most honest way to the riches of a satisfying retirement.
Perhaps 401k plan sponsors should also focus plan participantsâ attention on these 5 overlooked factors the can thwart their ability to attain the freedom of financial independence.
When is a “problem” not really a problem? And what can be better than success, even if no one knows about it.
In the end, this all comes down to one final concern, and itâs one that is typically not even considered.
Before you start to panic, take a deep breath and relax. The retirement savings industry is an aircraft carrier. It canât turn on a dime.
