It’s not necessarily something that can be done at the flick of a switch, but it can be baked into the process.
Education
If a company sees a substantial number of employees exit their firm, this can have a detrimental impact on all areas. Even the company’s 401k can be negatively affected in a number of ways.
Here are five relevant lessons 401k plan sponsors can ask their service providers to show during employee education meetings.
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.
Fad topics come and go be a certain set of 401k concerns remain the same. What are they and why do they motivate plan sponsors?
Perhaps it’s time to cut the cord of “financial wellness” 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.
Plan sponsors can benefit from motivated employees, and the 401k plan is a tool to achieve this motivation. What precisely can plan sponsors offer in addition to the usual company match to make their 401k plan more enticing, more attractive, more motivating?
Perhaps 401k plan sponsors should also focus plan participants’ attention on these 5 overlooked factors the can thwart their ability to attain the freedom of financial independence.
Just because you don’t have a fiduciary duty to other employees doesn’t mean you shouldn’t continue to think like a fiduciary.
What’s the Goal? Last I heard it was preparation for retirement via tax preferred savings … but, looking around at what is typical industry practice, perhaps I have it all wrong.
