It turns out there’s a downside to 401k participant engagement. Who knew?
Basic Members
A good fiduciary needs to see through the hype and base decisions solely on matters of import. This isn’t as easy as it sounds. For one thing, hype, like humor, works because it’s based on truth. This mantle of credibility is just enough to lead the fiduciary astray.
The need for 401k plan sponsors to increase their focus on their fiduciary duties and, specifically, execute strategies with can reduce their fiduciary liability, arises from this New Fiduciary Era in which we find ourselves. Fortunately, the path to implementing these strategies is well worn. It should be easy to accomplish.
Who would you ask if you wanted to know the best way to do something.
As the year approaches its conclusion, it’s a good time to reflect on the good that we have seen in the 401k world. In doing so, we can see plan sponsors have reason to smile.
It’s safer to assume you don’t know everything – and here’s a list that begins to define that everything.
What if you were told the best way to calm your nerves was to be worried? Here are 7 reasons why this might be true.
A fiduciary who only looks at the most recent reporting period stands to make an unfortunate – and potentially damaging – investment decision… and unnecessarily exposes himself and his company to a liability that can otherwise be easily avoided.
Worse, those held accountable for the potential damage of the flaw are not these detached organizations, but the professionals implicitly promoting the festering error – regular people ranging from bank trustees hired to guard the interests of beneficiaries to retirement plan sponsors and trustees responsible for protecting their employees.
401k Plan Sponsor and Fiduciary Top 5 All-Time Most Popular “Must-Read” Articles
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