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).
Tag "plan sponsor"
The biggest issue when it comes to access is cost. It’s not just the plan sponsor’s sensitivity to higher costs. It’s the service provider’s ability to keep those costs low.
In the end, this all comes down to one final concern, and it’s one that is typically not even considered.
Here’s something you don’t always see, but maybe you should.
Before you start to panic, take a deep breath and relax. The retirement savings industry is an aircraft carrier. It can’t turn on a dime.
Today, the understanding of conflict-of-interest fees goes well beyond plan sponsors. Individual investors also understand how they can act as a better fiduciary for their own personal investments.
If you are responsible for 401k participant education or in any form of employee-based financial literacy program, you may want to adopt methods used by others who teach adults.
Aside from pep talks and infusing it into their corporate culture, don’t forget that much of what is needed can be built right into the plan.
It’s not as if this “surprisingly secret” formula has run its course. The equation is so timeless, so simple, that it continues to work for those who have the disciple to follow its rules. Still, can today’s workers see this work for them?
ESG isn’t going away. There’s no way of telling if it’s a mood ring or a diamond ring. One thing is eminently clear: ESG is a product that people want right now. This complicates life for the retirement plan fiduciary.
