A video series, direct from Charlie Epstein, based on his book; Save America, Save! Secrets to a Successful 401(k) Plan. Charlie talks about valuable strategies you can implement to improve your 401(k) retirement plan and your employees’ retirement savings outcome.
In my last few videos, I’ve been talking about things like revenue sharing and expenses. Today, I’d like to dive a little bit deeper into this topic by talking about share classes. We’ll focus on the different kinds of share classes that mutual fund companies have, why they have them, and what you need to be aware of as a plan sponsor to avoid a potential lawsuit.
As I mentioned in my last video, the recent court case of Tibble v. Edison is something, that you as a plan sponsor fiduciary, need to understand because it pertains to the fees and expenses in your plan and what types of share class or mutual funds you have in that plan.
On this installment in my series—based on my book, “Save America, Save!”—we’re talking about getting a benchmark analysis. One of the keys to being a great plan sponsor fiduciary is ensuring that the fees that you pay in your plan are reasonable. Who and how do you define “reasonable?”
We believe that you can design a retirement plan that can nearly bulletproof you from any fiduciary liability. You do this by hiring prudent experts; people who have a 3(38) ;3(21) ;or 3(16); designation.
Welcome back to my series on how to create a successful retirement plan for your employees. In the last few videos, I’ve been talking about the various options you have for automating your employee’s savings to create paychecks for life. However, I want to switch gears today and talk about another important topic. I’m talking about the stretch match and courageous plan design.