How do you solve, for example, the problem of integration between the payroll software and the 401k recordkeeperās website?
Tag "retirement"
A few years ago, this might have been classified as a common āmistake.ā Again, āmistakeā is in quotes because this is less an issue for certain plans (usually small firms or particular industries) than others.
Retirees should think for themselves and what alternatives they have regarding their retirement assets. These arenāt 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 thatās all about the employee and the employeeās dreams, not about the plan.
Those who work with retirees and people saving for retirement often have the best perspective when it comes to guidance pertaining to what is comfortable and what is not. It begins with a very simple definition.
Thereās 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.
This doesnāt mean you shoot haphazardly for the stars when you can have the moon. After all, youāve got to know your limitations. Seeking unreachable goals will only make your retirement seem hollow and pointless.
Thereās a perverse incentive working here, however. The more aggressive a plan sponsor gets in terms of promoting āfinancial wellness,ā the more likely that plan sponsor will accidentally cross some compliance line.