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Plan Sponsors Maximize Outcomes Relying on Plan Advisor

Plan Sponsors Maximize Outcomes by Relying on the Plan Advisor. There are times when Plan sponsors just fail to receive Value from their Service Providers.  Mark Albers, Plan Administrator for this company’s 401k Retirement Plan made it very clear during a Plan Sponsor University Meeting at Florida Atlantic University, that his firm relies on the expertise of their Retirement Plan Advisor, Brad Larsen when it comes to the heavy-lifting of the plan particulars.

Frequently a Plan Advisor or a Service Provider will speak in their own industry jargon – thus making it difficult for the company trustees or individual plan fiduciaries to comprehend exactly what is being discussed.   Mark stressed the importance of having a strong Retirement Plan Advisor.  Specifically, an Advisor who can communicate well with an entire committee or with a conversation with a single committee member.  Having clear lines of Communication with all committee members is a plus for all plan sponsor representatives involved.

Companies that offer 401k Plans are offering a valuable benefit to the workforce.  Another valuable benefit that employers seem to be increasingly-embracing is  Financial Wellness for the entire workforce.  Financial Wellness can take many forms when paired with tax-qualified retirement plans, but the role of financial coaching is very important for the plan sponsor who works with a diversified workforce.

Soon to be retiring employees have financial needs that are distinct from the needs of Generation Z employees or Millennials. This Vlog addresses some of those distinct needs.

Steff Chalk

Steff Chalk

Executive Director at 401kTV | TRAU | TPSU
Steff C. Chalk is Executive Director of The Retirement Advisor University, a collaboration with UCLA Anderson School of Management Executive Education.Steff also serves as the Executive Director of 401(k)TV and The Plan Sponsor University. Steff is current faculty of The Retirement Adviser University.
Steff Chalk

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