Just the other afternoon, I was speaking with the owner of Coggs, Widgets & Doohickies about his 401(k) plan, and I asked him about his plan investments. “Chris,” he said, “my wife suggested that I give the business to her … Continue reading
As service providers to qualified, defined contribution retirement plans (especially 401(k) plans) preparing to comply with the new Department of Labor regulations regarding fee disclosures, we know that one thing plan sponsors or “responsible plan fiduciaries” can count on is … Continue reading
MSN Money recently posted an article about Ted Benna, known as the father of the 401(k), stating that he would like to disown his creation. That article caught my attention. Prior to the 1980s, most employees looked to a combination … Continue reading
In a recent article picked up by onwallstreet, author Tony Fernandez noted that Western District Court Judge Nannette Laughrey found that Fidelity Investments and the American unit of ABB, Inc. had breached their fiduciary duties by allowing excessive 401(k) plan … Continue reading
Investment management is a learned skill. None of us is born with the innate ability to design, construct, manage and rebalance an investment portfolio and keep our emotions in check while doing so. Yet the originators of the 401(k) plan … Continue reading
Many plan sponsors (who are, by definition, fiduciaries) believe that if they offer their plan participants a menu of investment choices (sometimes an almost overwhelming menu), their job is done. But many plan participants feel they’re just not ready, or … Continue reading