Navigating the Sea Change in 401k Retirement Plans
As an employer, you share the responsibility for guiding your employees toward making decisions that will afford them greater financial freedom in retirement. But here’s the quandary: just as your workers look to you for financial guidance and advice, you must adjust to a sea change in plan regulation and administration. Do the following issues look familiar to your 401k retirement plan committee?
- New 401(k) regulations that add to the complexity of administration
- Fiduciary pressures to provide prudent investment options
- Timely (and potentially complex) fee disclosures to your 401(k) participants
- Outside advisors whose allegiances are split between plan providers and investment managers
- Watershed regulations that require greater transparency about disclosing relationships between plan sponsors and their advisors
- Employees who feel they cannot afford to save, but are being courted by your competitors through their benefits programs
- Concerns over your employees’ retirement readiness.
Unbiased Advice for Your 401k Retirement Plan
Your need for competent, objective retirement plan and investment advice—from an advisor you can trust—has never been greater. That’s why your plan should work with an independent, retirement plan advisor at Virtue Wealth.
Focused 401k Retirement Plan Solutions from an Independent Plan Advisor
Until recently, it was possible for many plan sponsors and employers to work with advisors on nearly any brokerage platform and fulfill their fiduciary obligations. That’s no longer the case. With the retirement industry becoming more complex and regulated, today’s plan sponsors need more specialized services, including:
- Unbiased, independent advice that will allow them to offer competitive employee benefits at a reasonable cost
- Access to robust data to use in benchmarking plans and investment managers
- More effective financial education programs for their employees
In these areas and more, our 401k retirement plan advisors consistently set the standard. Why? Our single-minded focus on improving retirement readiness for American workers seeks to ensure the continued positive retirement experience of our plan sponsor clients and employees alike.