Long industry veteran tells it like it is. How will his comments change your thoughts on these important subjects?
Tag "ERISA"
Here things get a little familiar for companies with pre-existing stand-alone 401k plans (but may need to be discovered by those without plans).
Sometimes when you try your best, you still miss something important. And that could be the most dangerous miss you make.
The most pertinent issue may not be the fiduciary imperative, but the marketing imperative. This makes things extremely difficult for the 401k plan sponsor who may sometimes confuse which has priority. Here’s an example of why a plan sponsor might be concerned.
He also reveals the greatest misconception regarding MEPs, what the SECURE Act really did, and when we might begin to see the mass media start paying attention.
Although we’ve seen a broader acceptance of using an IPS, their use is by no means universal and particularly lacking among smaller employers. Perhaps there’s a realization that, if you don’t get the IPS right, you’ll only increase your liability.
When you’re not an expert in an important job that you need done, what do you do?
If you think this evolution is amazing, just wait until you see what changes come about once the 401kMEP starts ramping up.
401k plan sponsors have a renewed focus on the three F-words of offering employee retirement benefits: Fiduciary, Fees, and Financial Wellness. Here’s how plan sponsors answer questions related to each of these three F-words.
FiduciaryNews.com Trending Topics for ERISA Plan Sponsors: Week Ending 6/7/19
SEC’s best interest, ERISA’s fiduciary, and through the floor on fees.