The central role of the recordkeeper can create reverberations with other providers should the plan sponsor attempt to change recordkeepers. Any hiccup in the employees’ ability to manage their retirement assets can cause problems for plan sponsors.
Tag "service provider"
More sophisticated plan participants who can afford to hire their own adviser. They don’t ask more from the plan. They ask for less, in hopes of gaining more control over their own destiny. For a variety of reasons, this isn’t as easy as some participants would like it to be.
If a company sees a substantial number of employees exit their firm, this can have a detrimental impact on all areas. Even the company’s 401k can be negatively affected in a number of ways.
“This uncertainty can be very challenging for plan sponsors. If I have to give some basic words of advice to plan sponsors, I simply say ‘stop and take a breath.’”
If maintaining fiduciary due diligence were easy, they wouldn’t publish a list like this.
If a fee falls in the forest, will a 401k plan participant hear it?
The DOL admits, due to the number of variables involved, there’s no easy way to calculate the fees and expenses paid by your 401(k) plan. You might be surprised who the DOL suggests trying to find the answers to the following ten questions from.
These Five Developments Dramatically Changed the Retirement Fiduciary World in 2016
In a year that was marked with uncertainty, the biggest development of 2016 might be that it just didn’t matter.