We recently came across a large 401k plan with more than 30 funds in its fund lineup! Sadly, I wish I could say this was the exception, but we actually see this in many 401(k) plans when they first come to us from another provider.
Retirement Services & Financial Advisors - Serving Columbus & Beyond
Just as most 401k plans are unique in their offerings and operations, so too are the investment committees that should be formed to guide them. However, in confronting the critical issues facing employers in the management of their plans, all employers, and their investment committees should address one key question, if not quarterly, at the very least, annually.
As is customary with the proposal of any new regulatory rule or provision, the Department of Labor has opened the floor to comments regarding its proposed rule change to extend fiduciary responsibilities to all advisors who work with qualified retirement plans.
Successful business owners are known to be all-consumed with building their business, often investing a substantial amount of their time, energy, and money in their efforts. So, it’s not surprising that many business owners reach a late stage in life without having saved sufficiently for their retirement.
After a rather tumultuous decade in which the overall performance of 401k plans is best described as anemic, we may be entering a period of redemption that could have 401k plan sponsors and participants smiling again.
Since its inception in 2006, the Roth 401k account has been growing in popularity as a retirement plan option offered by employers. With the passage of the American Tax Payer Relief Act in 2012, the door has been opened even further for plan participants to convert all or a part of their vested, pretax, account assets into a Roth account.
The landscape for retirement plan sponsors continues to change with the most recent Supreme Court decision in the case of Tibble v. Edison International. In fact, the decision, which ruled in favor of the employee group, constitutes a tectonic shift in the relationship between plan participants and plan sponsors.