5 Actions Can Make or Break Your 401(k)
The devil is in the details—this common phrase couldn’t be more relevant than it is in the context of successfully managing a 401(k) plan. And this is where plan sponsors rely most heavily on the guidance and continued involvement of their plan consultants—to seamlessly coordinate back office functions and day-to-day operations. To that end, consultants should play a pivotal role in the following key activities and areas of focus. Source: 401kspecialistmag.com
5 Actions to a Successful 401(k):
- Choose the right 401(k) provider
- Living the investment policy statement
- Keeping current and maintaining plan focus
- Creating and maintaining a fiduciary binder
- Following-up with plan participants
In summary, plan consultants that are frequently touching base with Plan Sponsor’s and their participants will likely have the greatest opportunity to enhance a plan’s health.
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