Tag Archives | defined contribution

New Fee Disclosure Rules Are Effective Soon

Orange County, CA, LPL Financial, 401k, June 6, 2012 – The Department of Labor’s (DOL) regulations requiring disclosures of fees and expenses to retirement plan participants are effective in just a few months. They are coupled with new rules concerning information that service providers must give to plan sponsors. The rules for disclosures to participants [...]

How Much Are We Really Saving in Our 401ks?

Orange County, 401k,  5/16/12 – The typical investor, as per this article, had only $78,000 in their 401k account as they approach retirement. If you’re young, you should really consider bumping up your savings… as your most important asset is time.  Alicia Munnell of SmartMoney says,   “Most people approaching retirement who are lucky enough [...]

Q&A – “I am the CFO of my company and we offer a 401k plan, how do I know if I am a fiduciary?”

The answer is: MAYBE In general terms it’s going to come down to the involvement of the CFO in the plan.  If one has discretionary authority or control with regard to the management of the plan or its assets, or any discretionary authority or responsibility with regard to the administration of the plan the answer is [...]

Many of us won’t be able to retire until our 80s

Saving for retirement is a necessity that has fallen on the doorstep for those of us in the private sector. Pensions have essentially been phased and exchanged for self-maintained defined contribution plans (most commonly seen in the form of a 401k. It’s crucial that if an employer puts a plan in front of you, at [...]

Are You Getting The Most Out Of Your 401K

Most people don’t even know what a Fiduciary is, let alone what their responsibilities are. In the case of a 401k this is someone managing the assets of another person and stands in a special relationship of trust, confidence, and/or legal responsibility. According to the US department of Labor “Fiduciaries who do not follow the [...]

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