While the current landscape is still taking shape, the trajectory of AI’s influence is undeniable. There’s no question 401k AI is moving in a direction where it will take on a critical role in moving beyond averages to identify specific savings gaps and in enabling more precise, effective fiduciary interventions.
Tag "saving"
In the spirit of the season, one might even think of this as “tricking” employees to save. Plans sponsors are already using these tricks.
So what if a few very high net savers end up with bigger retirement plans? Good for them. The point is to make it easier for more people to save more.
Well, if we’re thinking outside the box, why not go big? It turns out, retirement planning isn’t just about accumulating sources of future funds.
Here’s the irony of the tax saving incentive. If it’s wildly successful and leads to very large retirement accounts, the required minimum distributions at retirement may place the now retired employee in a higher tax bracket than the one experienced while working.
It’s critical that plan sponsors consult with compliance professionals before adding the Deemed IRA feature.
If you’re over fifty, that gold watch gleams closer and closer. You start thinking. You start wondering. You start asking questions.
How do we design and administer retirement plans?
If you think the web of fiduciary duties is complex in a 401k plan that focuses on getting employees to save for retirement, imagine how much more intricate it becomes if the plan also has to cater to retired employees.
The Biggest 401k Fiduciary Fireworks, Fizzles, And Flops In 2021
Flops may not be forever. They may just be good ideas before their time. If you’re going to belittle them, you best hurry, because, if you wait too long, you may just discover they aren’t flops anymore. As a result, let’s not waste any time before the shelf-life of these flops expire.