Nobody’s perfect. It’s unfair to expect recordkeepers to be. Everyone makes mistakes—even recordkeepers. The problem is what happens when a mistake occurs.
Tag "plan participant"


Retirees should think for themselves and what alternatives they have regarding their retirement assets. These aren’t the same as they were when they were working.

Just as these changes come bearing down, so, too, does a need for greater hand holding. Pressures within the provider industry, however, appear to be reducing the number of available hands.

This doesn’t mean you shoot haphazardly for the stars when you can have the moon. After all, you’ve got to know your limitations. Seeking unreachable goals will only make your retirement seem hollow and pointless.

If you’re a fiduciary of the acquiring plan, you want to make sure you’re not burdened with any unknown liabilities. If you’re a fiduciary of the acquired plan, you want to make sure the merger process doesn’t introduce new liabilities.

The decision to retain and service company retirees appears (at first blush at least) to be a no-brainer. But that includes a very important assumption.

Clearly, you wouldn’t pay more for 2 apples if you could get 3 for the same price, but would you pay more to get 2 oranges instead?

Perhaps it’s time to cut the cord of “financial wellness” and take your tonic of financial reality. Accept the schoolmarm for the discipline she brings, because that remains the most honest way to the riches of a satisfying retirement.