Not only do pooled plans reduced the administrative burden, but they can also reduce the fiduciary liability for 401k plan sponsors. If you’re not constantly looking over your shoulder, you can spend more time with your nose to the grindstone.
Posts From Christopher Carosa, CTFA
Some costs can’t be negotiated. These relatively fixed costs are the same no matter the size of the plan. Bigger plans can absorb these costs over a larger asset base, meaning the per participant cost is lower.
The central role of the recordkeeper can create reverberations with other providers should the plan sponsor attempt to change recordkeepers. Any hiccup in the employees’ ability to manage their retirement assets can cause problems for plan sponsors.
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Any focus on younger employees in terms of saving for retirement may all be for naught. For these often lower-paid workers, the higher contribution caps for 401k plans may not any practical benefit.
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The relative quickness of this one-two shot from the District Courts suggests an obvious flaw in the new Rule.
It’s clear that certain areas of government oversight are more vulnerable now that Chevron no longer rules the land. The prospect of this may excite opponents of excessive regulation.
Among the consequences that can follow from the Supreme Court’s overruling Chevron is yet more situations for which an answer to a question of law won’t be one bright-line rule made by a government agency.
Big Day Coming: New Book Coming Out On August 15, 2024!
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