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.
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.
The recently launched Portability Services Network (PSN) is one potential solution. (link to PSN website) The PSN is a digital hub connecting retirement plan record keepers and plan sponsors aiming to reduce cash outs by introducing auto portability for employees leaving their job with a balance under $5,000.
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.
Retirement planners, regulators, and legislators have spoken out in recent years about the need for solutions to this troubling problem: The typical American, when reaching
PCI Founder and Chairman, Brian Allen, CFP®, recently spoke with CNBC about the importance of having your financial house in order, especially in these turbulent
As a fiduciary, you want confidence that you’re providing your employees with a good retirement plan. And, we know that a good plan is a
As a fiduciary, what you want most is confidence that you’re providing your employees with a good retirement plan. And, we know that a good
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