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.
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Perhaps, just as plan sponsors have developed onboarding programs for new hires when it comes to saving for retirement, maybe they should add âunboardingâ programs as a bookend for those nearing retirement.
Do Regulatory Rules Work? Fiduciary Drip-Drip-Drip, and Challenging Investing Convention.
Whether a plan sponsor decides to adopt a 401k IPS remains an open question. Itâs not a question that should be treated casually. Every plan situation is different. Plan sponsors therefore must conduct a thorough due diligence to determine whatâs best for their plan.
Although weâve seen a broader acceptance of using an IPS, their use is by no means universal and particularly lacking among smaller employers. Perhaps thereâs a realization that, if you donât get the IPS right, youâll only increase your liability.
When youâre 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 youâre 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.
Top 5 FiduciaryNews.com Stories in 2019 for the 401k Plan Sponsor and Fiduciary
The articles that caught the greatest interest may indicate not only answers people seek but future directions they intend to go. Letâs take a look.