Why Committee Mindset Matters Most retirement plan committees meet several times a year, review reports, and approve recommendations. Yet many operate without a clearly defined
In this article, we will review the distinction between fee-only and fee-based compensation advisers. While similar in name, we believe the differences can impact trust, transparency, and accountability—the pillars of strong fiduciary oversight.
This article focuses on the right KPIs fiduciaries should adopt to determine whether the party responsible is progressing toward the goal of getting employees on track for retirement.
Only 35% of non-retired adults say they’re on track for retirement—and that number hasn’t meaningfully improved in years. If the 401(k) is the primary tool for retirement savings, shouldn’t it be working better?
When retirement goes off track, financial stress escalates, permeating every aspect of employees’ lives and workplaces. This cumulative effect imposes serious costs on individuals and employers alike.
Only 35% of non-retired adults say they’re on track for retirement—and that number hasn’t meaningfully improved in years. If the 401(k) is the primary tool for retirement savings, shouldn’t it be working better?
The Federal Reserve just released its latest Report on the Economic Well-Being of U.S. Households, and one finding stands out: only 35% of non-retired adults say their retirement savings are on track.
America Saves Week is a timely reminder: too many employees aren’t saving enough. Your 401(k) plan is uniquely positioned to do something about it.
Fiduciary committees have many important obligations to their participants. Among those, selecting and monitoring your plan’s investment options is one of the most vital. In our latest blog, we take a look at how committee investment decisions can impact participant retirement readiness.
When the Internal Revenue Service (IRS) issued new rules that allowed employees to contribute to 401(k)s in 1981, one very important effect drastically impacted the
Unfortunately, this is a very common choice that individuals make when leaving their employers. Although younger people are more likely to cash out their balances, people of all ages make this detrimental mistake.
American workers are financially struggling. They are worrying about unforeseen expenses and feeling uncertain about their futures. However, Secure 2.0’s PLESA provision is a promising solution to help. Check out PCI’s top 5 reasons why PLESA is a great idea…
We believe emergency savings accounts within 401(k) plans are one of the most significant developments in recent years to help close the savings gap and improve the financial security of the American workforce.
For a fiduciary committee responsible for assessing a plan’s costs and prioritizing participants’ best interests, every fee carries weight. With managed accounts, the extra charges can be a substantial detriment to participants’ retirement readiness.
401(k) Participant Managed Accounts are Not as Customized as Sellers Would Make It Seem. It is our view that, under the best circumstances, managed accounts offer true benefits to only a few plan participants who have specific and unique circumstances. However, for the majority of participants, these accounts are likely to resemble Target Date Funds (TDFs), with the added drawback of higher fees and potentially lower returns.
Over the last several years, there has been a growing trend of plan advisers and recordkeepers aggressively selling Participant Managed Accounts in employer-sponsored retirement plans.
