FiduciaryNews recently published an article highlighting the 5 most common plan fiduciary errors in our industry today. I am excited that I was able to contribute to the discussion about how Rewarding Retirement and the 3 key drivers of retirement readiness – contributions, investment lineup performance, and fees – can help solve one of the most basic mistakes made by plan fiduciary committees. View the full FiduciaryNews article here: https://fiduciarynews.com/2020/10/5-big-overlooked-fiduciary-errors-401k-plan-sponsors-are-making-right-now/
The plan industry still lacks defined, clear, and objective measurements for fiduciaries to determine the effectiveness of the plan they oversee. There are 3 key drivers every fiduciary committee member should measure to know if they provide a plan that helps participants retire on time with dignity:
1) the right amount being contributed,
2) strong investment returns, and
3) low fees. Let’s take a brief look at each of these drivers.
Check this recent Pension Consultants, Inc. article about the 3 key drivers: https://pension-consultants.com/simple-as-123/
Don’t forget! My book shares an in-depth look at these drivers and much more about being doing a great job as a plan fiduciary committee member!