What is Most Important in a 401(k)?

What are the most important things in a 401(k) retirement plan?

What companies say – 

  1. Employees understand and like the plan
  2. Good employee participation
  3. Good investment choices
  4. Reasonable costs
  5. Good vendor service and communication

What regulators say – 

  1. Plan is run in the sole best interest of participants
  2. No self-dealing on the part of plan fiduciaries
  3. Prudent, documented oversight by fiduciaries
  4. Reasonable costs that are benchmarked on a regular basis
  5. Money is properly allocated in a timely manner

What employees say – 

  1. Easy to understand
  2. Good company match
  3. Good investment choices
  4. Help with understanding what investments to choose
  5. Help with knowing how much to contribute

How is your plan doing on these metrics?

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