Little to no information about our company plan
This is the second company I have worked for in Florida where I participated in the 401K plan where no one is there to help / advise etc.. Is this standard?
Peter M Charles
12/12/2011
Comments:
Response to: Little to no information about our company plan
Tuesday, December 13, 2011
Scott Brown says:
Peter, unfortunately it is not uncommon for participants to have to fend for themselves regardless of the size of the plan. The reality is that most employers are so overwhelmed by their actual business, Health Care costs and numerous other issues that do it yourself on retirement plans is now the norm. That said within the many new regulations coming out in the spring is language making it incumbent upon sponsors (employers) to do a better job of educating and engaging employees on their retirement plans. Numerous studies have shown a strong correlation between plans with solid procedures in those areas and employee satisfaction.
Scott
Response to: Little to no information about our company plan
Tuesday, December 13, 2011
Peter C says:
I wouldn't trust my employer's advise. Shouldn't the person that did the initial enrollment be available to answer questions, advise on fund picks etc.??
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