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Help Employees Understand Their 401(k)s

Help Employees Understand Their 401(k)s

September 27, 2022

Help Employees Understand Their 401(k)s

As a plan sponsor, your company carries the responsibility of ensuring that minimum employee-education and plan notice requirements are met. This task can be accomplished by relying on the informational mailings sent by plan providers to participants, which generally fulfill the necessary criteria. However, it is important to recognize that mere bullet points of information may not be sufficient, given the significant importance of employees effectively managing their investments. To truly grasp complex topics, employees need the opportunity to ask follow-up questions and engage in deeper understanding. The most effective way to facilitate this process is through in-person conversations between employees and a knowledgeable professional. By providing employees with the chance to have meaningful discussions about their 401(k)s, they will be empowered to fully comprehend and derive maximum value from this crucial benefit.

About the Author:

Damon Paull is a Marine Corps veteran who has traveled to over 20 countries. As a financial advisor in Houston, Texas, he is passionate about helping business owners and individuals pursue their financial goals. You can connect with Damon and his team at: 703.362.5747 or DPaull@totuswm.com.

For use with plan sponsors only.