From PlanSponsor.com: Sure-fire practices to ensure that your plan is greater than the sum of its parts
Developing a successful 401(k) plan for a company is not an easy task, but according to Donald W. Barden, Atlanta regional sales director for retirement business at OneAmerica Financial Partners Inc., the leading plan sponsors are the ones who understand the importance of a well-constructed401(k) plan.
These plan sponsors recognize that a 401(k) program is more than a mere financial product. “It’s a gift,” Barden says. “It’s meant to be a benefit.”
Click here to read the full article.
From Employee Benefit News:
Employer matches aren’t as strong an inducement to get employees into the 401(k) plan as you might think, according to Brigitte Madrian, professor of public policy and corporate management in the Aetna Chair at Harvard’s Kennedy School of Government.
While matches are great for employees once they’re in the plan, they’re not the best tool to encourage enrollment in the first place, Madrian said during a Web briefing sponsored by State Street Global Advisors, which recently launched its Defined Contribution Investor Survey report.
Madrian made it clear she’s not advocating employers get rid of their employer match, only that they should be aware of its actual impact.
Click here to read the full article on 401(k) matching.
Employee Benefit News offers eight things to consider when reviewing your investment funds, incuding investment tracks, traditional asset classes and commodities funds. Click here for the full article.
A few items defined contribution retirement plan administrators need to put on the calendar for August:
- August 14: Quarterly benefit statements
- August 15: Form 5500 and annual benefit statements
Please contact us at 702-384-1120 with any questions about your company’s retirement plan – we offer pension plan administrative services and 401(k) audits.