Much, if not all, of the Zoom hacking could have been prevented if the meeting hosts had just followed a few common sense rules. They start with before you even set up the meeting.
Plan Sponsors
What’s the biggest challenge for those responsible for administrating their company’s 401k plan while working from home? How is that challenge best overcome?
With the large influx of employees working from home, telecommuting may be here to stay. Companies need to rethink how theyâve addressed 401k communications in the past. One never knows when the ânewâ normal will appear.
Now is the time for 401k plan sponsors to seize their fiduciary mantle and provide the guidance and tools plan participants need to dodge emotional decisions that could ruin their chance for a comfortable retirement.
Itâs important to remember that the 401k MEP is just a vehicle. Whether they truly meet the objective of employees saving more for retirement and doing so effectively and efficiently comes down to execution.
It appears all but certain the floodgates will soon open wide, unleashing a torrent of trade association sponsored 401k MEPs. If youâre looking for the trigger that will open those floodgates, here’s what you should be paying attention to.
Not being able to easily monitor how former employees apply these tools, however, can increase the fiduciary liability of plan sponsors.
You canât do anything about it if you donât know what the âitâ is you need to do something about. It is therefore important for plan sponsors to devote resources that increase employee awareness.
If plan sponsors can train their employees to use these same tactics for their retirement, theyâll be more likely to practice those tactics at work. And thatâs good for business.
401k plan sponsors have a renewed focus on the three F-words of offering employee retirement benefits: Fiduciary, Fees, and Financial Wellness. Hereâs how plan sponsors answer questions related to each of these three F-words.
