Ideal 401k Plan Features Include Automatic Deferrals and Increases
Ideal 401k plan features were brought to the forefront of the 401k industry by, Fred Barstein, Founder and CEO of The Plan sponsor University (TPSU). After delivering 90 Fiduciary Education Programs, TPSU studied the responses of the plan sponsor attendees and subsequently summarized that data into what has become known as ideal 401k plan features. This includes automatic deferrals, automatic increases, a managed account option, and additional features. Knowing that every company cannot participate at the same levels, these features are now suggested as prudent features and practices at TPSU Programs throughout the country.
The intention is to have every participating employee achieve an account balance that will enable them to retire at normal retirement age if they choose to do so.