Posts about Employee Retirement Benefits

Your current 401(k) plan may be the result of simply taking the path of least resistance.

Perhaps the plan sponsors wanted to simplify the process and costs, and chose a plan based on convenience. Taking shortcuts might have seemed easier at the time, but it usually means you’ll need to switch 401(k) providers later to find the plan that actually works for your company.

Just because your company has a 401(k) plan in place doesn’t mean it’s working well for your company and employees.

If you’re seeing any of the following seven warning signs, it’s time to seek an outside opinion and analysis of your 401(k) plan:

If you’re not communicating well with employees about your 401(k) plan and providing the advice and guidance they need, they’ll end up seeking advice from other employees — who may not know what they are doing. Each person’s financial situation is different, so what’s right for one employee could be disastrous for another.

A construction company provides a sobering example of what could happen if you don’t make employee communication a key element of your company’s retirement plan.