Plan sponsors should inquire about their adviser’s compensation, professional credentials and educational background, says retirement expert Robert Lawton.
Employers should concentrate on adopting measures that enable seamless plan-to-plan savings portability for participants, especially for employee accounts with less than $5,000.
Plan sponsors should connect with workers by integrating financial wellness concepts, including behavioral finance/economics elements, talking about loans and withdrawals and offering one-on-one meetings.
Plan sponsors worry record keepers will follow suit, limiting the investment options employers are able to offer employees through their workplace 401(k) plans.
House Republicans’ tax-overhaul bill will raise the amounts that American workers can contribute to their 401(k) retirement accounts, House Majority Leader Kevin McCarthy said Sunday.
