Message to Plan Sponsors: Your Traditional 401ks are broken
401k plans were developed in the late 70s/early 80s – about the same time as PacMan and the Commodore 64 computer. While we’ve seen huge leaps in computer technology most 401k plans have not evolved. So, it shouldn’t be a surprise that Ted Benna, the father of the 401k, feels his creation has become a “monster”, and economist and professor Teresa Ghilarducci believes that 401ks have “failed” the people they are supposed to help the most. You decided to offer a 401k plan because you wanted to offer competitive benefits and help your employees save effectively for retirement. As an employer,...
Read MoreFebruary 2013: Insights from Liz Ann Sonders of Charles Schwab & Co, Inc.
We wanted to share an article written this week by Liz Ann Sonders, Senior Vice President & Chief Investment Strategist for Charles Schwab & Co., Inc. She does a great job of putting the last five years of market performance into perspective. Also read to see why Sonders is not worried as the S&P 500 approaches its record high.
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