As recessions become an inevitable part of the economic cycle, the responsibility of ERISA fiduciaries and 401k plan sponsors is clear. For plan sponsors, the answer lies in a proactive, hands-on approach. It’s about continuously reviewing plan design, investing in technology, and fostering a culture of financial literacy among participants.
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Participation is one thing. It’s critical that retirement savers build on the momentum of participation and use that to increase the amount of dollars that get contributed to their article. How can plan sponsors facilitate this?
The pendulum again swings in favor of the fiduciary standard as the DOL threatens to come after service providers regarding questionable fees. In the meantime, the battle between Modern Portfolio Theory and Behavioral-based solutions gets hotter.
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FiduciaryNews.com Trending Topics for ERISA Plan Sponsors: Week Ending 2/10/17
States of ERISA, fiduciary whirlwind, Fee Fear Factor, and targeting TDFs.