Advisors do more than plot portfolios. They calm nerves, making them frontline warriors against volatility panic, turning “what if” into “we’ve got this.”
Tag "Lawrence Starr"
For ERISA fiduciaries, the challenge is clear: move beyond the default, and design a 401k plan that truly serves the diverse needs of its participants. In doing so, you not only safeguard retirement incomes but also reinforce the trust placed in you by those relying on your expertise.
The fact Social Security was already collecting this information, albeit not in a database, raises the question of whether this new lost and found database will add any real value.
Making matters worse is the changing regulatory environment once the new SECURE Act 2.0 rules become effective. The good news is the dust settles after that.
Any focus on younger employees in terms of saving for retirement may all be for naught. For these often lower-paid workers, the higher contribution caps for 401k plans may not any practical benefit.
For all the rose-colored eyes that have a created a legend flawless certitude concerning memories of a time that never existed, pension plans simply can’t measure up to 401k plans.
Plan sponsors need to think about it in these terms: Does it make sense to have a pork-belly ETF on a 401k investment menu? How about orange futures?
To make the procedure more agonizing, the transition away from Chevron may feel like death by a thousand cuts. But the snail-like process of the courts has its benefits.
The process of transferring assets is not without its own liabilities. The exact nature of the fiduciary risk depends on the nature of the transfer.
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Will These Be The Biggest 401k Fiduciary Stories In 2024?
If you have any experience in the retirement plan business, some predictions just write themselves. As in “an incredible feeling of déjà vu.”