Schedule your free Exploratory phone call

Click here to see how we
can be of assistance.

Careers/Open Positions

Explore all available job
listings and become a part of an amazing team.

Our Social Media

Connect with us on Social Media using the following buttons:

Visit our Podcasts

Listen in, Join the Conversation!

Recent Posts
Immediate vs. Deferred Annuities

Despite not being as well known as some other retirement tools, annuities account for 6.5% ...

See more
According to Young Investors, Progress Toward Goals Matters Most

Younger and older investors are likely to have different preferences in music, movies, and fashion. ...

See more
Guiding Your Aging Parents Through Life’s Next Chapter: A Strategic Overview

In today’s aging society, many families face the responsibility of caring for elderly parents. This ...

See more

Who’s Keeping an Eye on Your 401(K) Plan?

April 19, 2018

Have you ever wondered who is responsible for reviewing your 401(k) plan and ensuring that it is working for you? More than 54 million people across the United States rely on their 401(k) plan as their primary method to save for retirement, but many plan participants don’t know who’s responsible for managing it and how to use it the most effectively. 

Identifying who is responsible for your 401(k) plan can help give you greater clarity about working towards your retirement goals. A 401(k) plan, simply put, is a special purpose trust identified by your employer to help you save for retirement. This is overseen by one or more individuals known as plan trustees.

These plan trustees are legally responsible fiduciaries that must make sure that the 401(k) plan operates for the benefit of the plan participants and the participants’ beneficiaries. Furthermore, the plan trustees have to verify that your plan complies with the requirements of the Employee Retirement Income Security Act, which requires that every plan participant is treated fairly. A formal written document should be included with your 401(k) plan about how the plan does operate and the summary plan description can also be a valuable piece of information to review.

Bringing this information to your meetings with your financial planner or your estate planning attorney can help position you to better understand how this will protect your future.

 


Practice Areas:



Schedule your free Exploratory phone call

Click here to see how we
can be of assistance.

Careers/Open Positions

Explore all available job
listings and become a part of an amazing team.

Our Social Media

Connect with us on Social Media using the following buttons:

Visit our Podcasts

Listen in, Join the Conversation!

Recent Posts
Immediate vs. Deferred Annuities

Despite not being as well known as some other retirement tools, annuities account for 6.5% ...

See more
According to Young Investors, Progress Toward Goals Matters Most

Younger and older investors are likely to have different preferences in music, movies, and fashion. ...

See more
Guiding Your Aging Parents Through Life’s Next Chapter: A Strategic Overview

In today’s aging society, many families face the responsibility of caring for elderly parents. This ...

See more