This is not to say the 401k is perfect and that there’s no need to improve it. These improvements, though, would be more like tweaks rather than wholesale changes.
Tag "Chad Parks"
Just because the new Rule won’t be enforced until January doesn’t mean retirement savers can’t take advantage of it. This does, however, require individuals become self-reliance and look out for their own good. But how is that any different for all other consumer decisions?
“Hopefully,” says Reese, “this past year gave employers a better understanding of what they need to look out for to act as fiduciaries for their plan participants.”
