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Retirement Plan Participants

Working Americans of all ages are plagued by widespread misconceptions and procrastination that could undermine their retirement readiness, unless they devote enough time to learning basic concepts.

Many people take their first steps towards retirement savings when they enroll in a company-sponsored retirement plan, and we are familiar with the psychological barriers that keep many from going down this path. If participants lack confidence in their investing knowledge, or are worried that the funds they set aside may be needed more elsewhere, we provide education through meetings and one-on-one appointments to fill participants in on what we know to increase their overall savings aptitude and create peace of mind.

Most 401k plan participants want and need better investment education. Nearly all plan sponsors provide investment information in some form, mostly provided through internet access. It simply isn’t reasonable to expect every employee to know everything about his or her retirement plan, just because a Summary Plan Description was handed to them on their first day of work. Our participants respond with more action through our providing of group meetings and individual consultations coupled with technology. Through our client presentations our financial advisors look to educate employer-sponsored retirement plan participants, not only to encourage retirement savings but overall financial literacy through various topics.

Regular and encouraging communication benefits participants in the following ways:

  • Increases plan participation and elective deferral contributions
  • Promotes appropriate asset allocations
  • Builds greater financial security for plan participants
  • Lowers exposure to fiduciary liability and participant litigation

Countless studies have shown that happy employees are more productive, more successful, and less likely to leave for other job opportunities. In addition to helping to attract high-caliber talent, keeping existing employees happy can save an employer both time and money in the form of lower re-training costs. This dynamic leads many firms to view these sorts of investments as necessary expenses to keep employee turnover low.

Advisors and Consultants who work with Plan Participants