“…anytime we are talking about disclosures, don’t make them like the lovely 404a notices. Make them simple and easy to understand. Otherwise you lose the whole point of the disclosure.”
Tag "401k"
Be wary of these regulatory plugs, marketing buzz, and investment fads.
Would you rather have the nuts and bolts practical guide for what to ask or the theoretical questions that tend towards the philosophical? Most 401k plan sponsors are too busy for theory, that’s why they’ll prefer to focus on these questions.
Before one can advise investors, it’s critical one know what they’re thinking and understand why they’re thinking it.
No one need place themselves in a “Blanche DuBois Scenario.” Each has the ability, no matter their station in life, to seize control over their own destiny. This applies to retirement as much as anything else. This article offers five specific ideas each to three typical age groups trying to protect themselves against the potential loss of Social Security benefits.
Plan sponsors shouldn’t let these three common fee foibles expose them to unnecessary fiduciary liability.
“As more employees find their 401k accounts growing to more than one million dollars, there will be a greater desire for employees to gain greater control over their own future. Plan sponsors should become more aware of the consequences of providing these kinds of options and how best to mitigate the liability risk associated with them.”
If you’re a fiduciary and you haven’t ask this question, you might want to read this before you make your next decision.
For 8 years as Assistant Secretary of EBSA, Phyllis Borzi fought vigorously to protect plan sponsors and retirement savers under the uniform fiduciary umbrella. Here, she answers questions about the past, present and future of the Fiduciary Rule.
FiduciaryNews.com Trending Topics for ERISA Plan Sponsors: Week Ending 7/20/18
Legislative Odds-Making, the True Cost of Low Fees, and When “Safe” Investing Isn’t Safe.