As recessions become an inevitable part of the economic cycle, the responsibility of ERISA fiduciaries and 401k plan sponsors is clear. For plan sponsors, the answer lies in a proactive, hands-on approach. It’s about continuously reviewing plan design, investing in technology, and fostering a culture of financial literacy among participants.
Tag "technology"
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.
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