When hiring your company’s 401(k) advisor, choosing a fiduciary mitigates your plan sponsor liability. But which type is best? Metaphorically, a 3(21) fiduciary acts as your co-pilot making plan asset recommendations, but the liability remains shared if the “plane crashes.” With a 3(38) fiduciary, you instead get out of the cockpit and become a first-class […]
Mitigating your fiduciary liability: pilot or co-pilot? Read More »
When selecting mutual funds, whether for an individual or a company’s 401(k) plan, it’s best to strictly adhere to acomprehensive list of criteria. While no one can (or should) guarantee performance, a diversified portfolio of “best in class” high quality funds that are regularly monitored for compliance to that criteria should serve all parties well. Here are
No More Stars, Diamonds or Smiley Faces Read More »
No matter whom you hire as a retirement plan provider, you will always be on the hook for liability as a plan sponsor. As a plan sponsor, you are a fiduciary, which is the highest duty of care in equity and law because you are responsible for your employees’ assets – even though they make
You’re always on the hook for liability Read More »
Millions of Americans register for a 401(k) through their job, but often discover too late that they are not on track to save enough for their retirement. According to a recent U.S. study, the average 401(k) plan participant only holds $42,000 in their retirement account and unfortunately are not receiving proper guidance from their plan
Is your 401(k) on track? Read More »