Employees base their decisions – both good and bad – on even the smallest cues, and that only increases 401k plan sponsor fiduciary liability.
Education
Here’s a win-win idea for both 401k investors and their fiduciaries.
While matching does provide a modest incentive, there are cheaper and more effective ways to get employees to save more in their 401k plans.
The false promise of “safety” may lure unsuspecting 401k investors into the most dangerous trap they’ll never see – until it’s too late.
Will 401k plan sponsors find themselves in the same sorry position as the unfortunate bartender who served one too many drinks?
Is there evidence to support what surveys say 401k investors want? Quite the contrary.
Government policy and the hoi polloi might be leading 401k plan sponsors to disaster. Why?
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What worked in the past might mislead today. Worse, it might not include everything it needs to include. Find out what’s still useful, what isn’t and what needs to be added.
Even if you can’t lead him to drink, you still have the fiduciary duty to lead a horse to water.
