All these strategies can be employed today and have proven themselves effective. It’s unclear that disclosing projected retirement income will provide the kind of incentive that will work.
Tag "401k"
It’s fun to talk about “risk” and “return” because these are measurables and people are comfortable with the tangible world. But none of that touches upon what really matters. Worse, it can distract you from achieving what you want most.
Most 401k investment menus retain the “style box” mentality of the 1990s. Who doesn’t have a kitchen from the 1990s that they don’t want to remodel? Your 401k investment menu is no different.
It’s not as if this “surprisingly secret” formula has run its course. The equation is so timeless, so simple, that it continues to work for those who have the disciple to follow its rules. Still, can today’s workers see this work for them?
ESG isn’t going away. There’s no way of telling if it’s a mood ring or a diamond ring. One thing is eminently clear: ESG is a product that people want right now. This complicates life for the retirement plan fiduciary.
Nonetheless, there is a way to short-circuit this time-frame. You can do it, but you’ve got to really want to do it.
Perhaps the first option to focus on is that one that involves “paying back” or “not paying back.” The rules, while straightforward to financial professionals, may be less apparent to retirement savers.
One of the biggest risks inherent in MEPs/PEPs is coordinating all of the many moving pieces. Here’s why people might be wrong to think they know enough about assembling a 401k MEP/PEP and regulatory compliance only heightens the potential liability.
Do you know the answers to the most important MEP/PEP questions – or do you only think you know the answers to the most important MEP/PEP questions?
“That is one of the key weaknesses of the SEC’s Reg BI. It allows brokers to claim they are working in an investor’s best interest without being held to a legal duty of loyalty”
