{"id":5751,"date":"2019-05-01T13:25:00","date_gmt":"2019-05-01T18:25:00","guid":{"rendered":"https:\/\/rixtrema.com\/blog\/?p=5751"},"modified":"2019-11-27T13:31:47","modified_gmt":"2019-11-27T18:31:47","slug":"why-plan-sponsors-should-pay-more-attention-to-their-retirement-plan-design","status":"publish","type":"post","link":"https:\/\/rixtrema.com\/blog\/why-plan-sponsors-should-pay-more-attention-to-their-retirement-plan-design\/","title":{"rendered":"Why Plan Sponsors Should Pay More Attention to Their Retirement Plan Design"},"content":{"rendered":"\n<p>The key point in your benefit plan\u2019s success is in its\u00a0<a href=\"https:\/\/401ktv.com\/retirement-plan-design-deserves-plansponsor\/\">design<\/a>. And if your company hasn\u2019t thought much about it, it might be the time for you to consider a thorough analysis to see how well your current plan is designed. There is no such thing as a universal plan design, as there are many different configurations and types, based on a wide range of factors and demands.<\/p>\n<p>According to a\u00a0<a href=\"https:\/\/www.forbes.com\/sites\/johnwasik\/2019\/04\/08\/what-the-best-401k-plans-do\/#522e9ef91c62\">recent Forbes article<\/a>, all of the high-performing plans in their survey had the following key plan characteristics in common:<\/p>\n<ol>\n<li>High participation rates: Nearly all employees were involved the best performing plans (95%) while other plans had less than 80%.<\/li>\n<li>Smart investment options: Almost all of these plans offer cheap index funds, managed accounts, and Roth options.<\/li>\n<li>Auto-enrollment and auto-contributions: The best plans have automatically enrolled employees in their plan<\/li>\n<li>Financial education offering: The majority of companies nowadays provide their employees with a financial wellness programs in addition to their plan design. Plus, more than a half provided advice on college credit, savings, and debt management.<\/li>\n<\/ol>\n<p>According to Forbes, you should definitely consider the following actions:<\/p>\n<ul>\n<li>Refer to a low-cost provider for an advice, in order to get additional help in building features into your 401(k) plan design.<\/li>\n<li>Check all the investment options in your retirement plan in terms of fees. As a fiduciary you are responsible for the paid fees and fund selection.<\/li>\n<li>Ask for advice: get as much information on your retirement plan design as you can. Check the most recent information with your service providers.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>The key point in your benefit plan\u2019s success is in its\u00a0design. And if your company hasn\u2019t thought much about it, it might be the time for you to consider a thorough analysis to see how well your current plan is designed. There is no such thing as a universal plan design, as there are many&#8230; <\/p>\n<div class=\"clear\"><\/div>\n<p><a href=\"https:\/\/rixtrema.com\/blog\/why-plan-sponsors-should-pay-more-attention-to-their-retirement-plan-design\/\" class=\"excerpt-read-more newsstand-button\">Read More<\/a><\/p>\n","protected":false},"author":11,"featured_media":5752,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[240],"tags":[286,45],"class_list":["post-5751","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-retirement-plans","tag-forbes","tag-retirement-plan"],"jetpack_featured_media_url":"https:\/\/rixtrema.com\/blog\/wp-content\/uploads\/2019\/11\/glenn-carstens-peters-190592-unsplash-min-1200x798.jpg","yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v15.9.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Why Plan Sponsors Should Pay More Attention to Their Retirement Plan Design<\/title>\n<meta name=\"description\" content=\"The key point in your benefit plan\u2019s success is in its\u00a0design. And if your company hasn\u2019t thought much about it, it might be the time for you to consider a thorough analysis to see how well your current plan is designed. There is no such thing as a universal plan design, as there are many different configurations and types, based on a wide range of factors and demands.\" \/>\n<link rel=\"canonical\" href=\"https:\/\/rixtrema.com\/blog\/why-plan-sponsors-should-pay-more-attention-to-their-retirement-plan-design\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why Plan Sponsors Should Pay More Attention to Their Retirement Plan Design\" \/>\n<meta property=\"og:description\" content=\"The key point in your benefit plan\u2019s success is in its\u00a0design. And if your company hasn\u2019t thought much about it, it might be the time for you to consider a thorough analysis to see how well your current plan is designed. There is no such thing as a universal plan design, as there are many different configurations and types, based on a wide range of factors and demands.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/rixtrema.com\/blog\/why-plan-sponsors-should-pay-more-attention-to-their-retirement-plan-design\/\" \/>\n<meta property=\"og:site_name\" content=\"RiXtrema.com\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/LarkspurRiXtrema\/\" \/>\n<meta property=\"article:published_time\" content=\"2019-05-01T18:25:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-11-27T18:31:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/rixtrema.com\/blog\/wp-content\/uploads\/2019\/11\/glenn-carstens-peters-190592-unsplash-min-1200x798.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"798\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@RiXtrema\" \/>\n<meta name=\"twitter:site\" content=\"@RiXtrema\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\">\n\t<meta name=\"twitter:data1\" content=\"1 minute\">\n<!-- \/ Yoast SEO Premium plugin. -->","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/rixtrema.com\/blog\/wp-json\/wp\/v2\/posts\/5751","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/rixtrema.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rixtrema.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/rixtrema.com\/blog\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/rixtrema.com\/blog\/wp-json\/wp\/v2\/comments?post=5751"}],"version-history":[{"count":1,"href":"https:\/\/rixtrema.com\/blog\/wp-json\/wp\/v2\/posts\/5751\/revisions"}],"predecessor-version":[{"id":5753,"href":"https:\/\/rixtrema.com\/blog\/wp-json\/wp\/v2\/posts\/5751\/revisions\/5753"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/rixtrema.com\/blog\/wp-json\/wp\/v2\/media\/5752"}],"wp:attachment":[{"href":"https:\/\/rixtrema.com\/blog\/wp-json\/wp\/v2\/media?parent=5751"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rixtrema.com\/blog\/wp-json\/wp\/v2\/categories?post=5751"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rixtrema.com\/blog\/wp-json\/wp\/v2\/tags?post=5751"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}