401(k) Advisors
Overview
As an employer and sponsor of a 401(k) plan, your company shoulders a major responsibility. You must listen to the needs of your employees and then select the appropriate service provider(s) at a reasonable cost, determine the optimal plan design provisions, choose and monitor investments, keep up with legislative changes, ensure your plan is administered properly, and educate and inform plan participants. All of this hopefully results in a plan that inspires employees to reach their retirement dreams, while helping you recruit and retain valuable associates.
With new fee disclosure laws coming into place and the many fiduciary responsibilities you carry as the employer, here are some questions that you may want to be asking yourself:
How do you know if your company is meeting these challenges? How do you select service providers or investments ? What are the criteria? How do you know if your plan is working? Does your company have the resources to handle these responsibilities alone?
Unless your company has individuals with 401(k) expertise who are solely dedicated to managing your employee retirement plan, you should consider hiring a financial advisor who specializes in 401(k) plans and is as dedicated to your needs as you are to your employees.
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