“Surveys show about half of investors don’t know how much they’re paying for advice, and about one in six think they pay nothing.”
Basic Members

When you’re not an expert in an important job that you need done, what do you do?

It appears all but certain the floodgates will soon open wide, unleashing a torrent of trade association sponsored 401k MEPs. If you’re looking for the trigger that will open those floodgates, here’s what you should be paying attention to.

Therein lies the conundrum. In the current environment, it may be far easier to overlook the failure to meet benchmarks with adequate consistency than it is to ignore the du jour ad hoc definition of woke.

Not being able to easily monitor how former employees apply these tools, however, can increase the fiduciary liability of plan sponsors.

“401k Multiple Employer Plans (MEPs) are a solution for the small to mid-sized employer market that will lead to the expansion of retirement plan coverage for America’s workers.”

MEPs have the potential to do what state-sponsored plans may not be able to offer – protection under ERISA. That’s in the employees’ best interests. If many embrace this concept, September 30, 2019 may indeed signal the dawn of a new day in retirement saving. Still, due diligence remains an imperative.

If plan sponsors can train their employees to use these same tactics for their retirement, they’ll be more likely to practice those tactics at work. And that’s good for business.

“The SEC’s Regulation BI is terribly disappointing. It not only fails to protect consumers; it actually makes the situation worse… The confusion that will ensue will be very damaging to investors nationwide.”