How do we design and administer retirement plans?
Tag "plan sponsor"
It’s not necessarily something that can be done at the flick of a switch, but it can be baked into the process.
It’s not just plan sponsors and plan participants that need convincing. The entire retirement plan infrastructure must also get on board. That doesn’t mean the hurdles can’t be overcome.
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.
While diligence is to be applauded, that’s not to say you can’t carry it to an extreme. If fact, some folks are so hung up on fees, they sometimes fail to see the bigger picture.
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.
Perhaps 401k plan sponsors should also focus plan participants’ attention on these 5 overlooked factors the can thwart their ability to attain the freedom of financial independence.
When is a “problem” not really a problem? And what can be better than success, even if no one knows about it.
You can squeeze a tube of toothpaste all you want, but that doesn’t change how much toothpaste it holds. Are we experiencing the same thing with 401k fees, or are they really dropping as much as we think? And, if they are dropping, are they dropping for the right reasons?
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