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Managing 401K's: Hot Topics & Areas of Concern?

We are taking another fresh look at our 401K plan.  This includes benchmarking fees (which we are constantly driving down), reviewing offerings, and ensuring our governance documentation is strong.  Any thoughts from anyone on hot issues/topics we should be mindful of? 

Answers

Dawn Winkelmann
Title: VP Finance
Company: Winkelmann
(VP Finance, Winkelmann) |

Patrick - employees should also be getting 401K training on the plan.

Randall Bolten
Title: CEO
Company: Lucidity
LinkedIn Profile
(CEO, Lucidity) |

Dawn's comment is spot-on. 401Ks (with or without employer matches) and IRAs are the best deal that any government has ever given its taxpayers, yet the participation rate in such plans is shockingly low. The principal reason for the low participation is poorly-informed employees.

You can offer all the bells and whistles you want, and administer the plans to a fare-thee-well. But the biggest service you can provide to your employees is NOT a gigantic menu of 401K choices, but making the value proposition so clear that they all participate.

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