Millennials represent the largest generation in the American workforce today and two-thirds of them feel they’re not on track with their retirement savings. A recent survey of this age group (ages 23 to 38) cites the high cost of housing as the number one reason for not saving (37%). The next reason, trailing not too far… [Read More]
Target Date Funds – Why Are They So Popular . . . and Are They Right for You?
Thinking on this recently, I’ve noticed most of my 401(k) plan sponsors offer target date funds as an option within their company’s 401(k) plan. Many have somewhere between 50% and 70% of their total plan assets invested in this choice. Target date funds are comprised of equities, bonds, and other investments, and are geared to… [Read More]
401(k) Fees in the Spotlight
I recently held a special meeting with employees of a larger firm who wanted to learn about their company’s retirement plan fee structure and how these fees affect their savings. This is a hot topic for plan trustees and employees alike – meeting after meeting 401(k) fees specifically come into focus. While a plan’s investment… [Read More]
Plan Fiduciaries for Qualified 401(k) and 403(b) Plans – Are You One?
Let’s cut to the chase – a plan fiduciary must always serve in the best interest of plan participants and their beneficiaries, or risk facing some pretty severe fines and penalties. I spend a lot of time with clients discussing this topic. While we could take a much deeper dive, I’ve spared you from the… [Read More]
