Retirement Plan Participants are an attractive group of individuals. Retirement plan participants have something that gets the juices flowing at investment houses and among service providers. Many industry professionals are attracted to your participants, and it seems that everybody wants to help. Now introduce your plan participant’s IRA balances into the equation. IRA balances which may possibly be sitting “almost dormant” in a bank CD… or, just the opposite. IRA balances may be in an online trading account – where transaction fees might be consuming any annual account growth. If that’s not enough, now there may just be a different way to look at those IRA balances. One that that spans across-the-spectrum of investments, geography and liquidity!
The majority of states have taken a position on how participants should be managing their retirement dollars. Various states are looking to get “hands-on” with your employees’ retirements activities – It may be the right time for Plan Sponsors across the country to provide direction to their employees. The question today has become, what can be done to simplify the IRA quagmire that has been fostered over the last 40 years. Astute plan sponsors today are familiar with the benefit of working closely with firms such as the Portability Services Network or Meet Beagle.
Plan participants and plan sponsors have choices… (Perhaps too many – but they do have choices which can help simplify the retirement landscape for those with multiple plans and multiple IRAs!) Fred Barstein has outlined in a recent WealthManagement.com article how plan sponsors can help plan participants navigate the Portability Services Network, or Meet Beagle and the IRA retirement world.
