My favorite session at SHRM13? One that focused on 401ks. Yeah, sounds strange, right?
But it really was an intriguing session. The speaker discussed some of the behavioral concepts regarding 401k planning, retirement, etc. I have some good notes to share soon, but this was the one big takeaway that I got from the session. Check out the video below to learn how to immediately impact your employees’ financial readiness for “retirement.”
Thanks Ben! I look forward to your notes on the topic. This is one of those things that keep me up at night. Recently I made the mistake of watching the Frontline episode “The Retirement Gamble” and now I really can’t sleep!
I think with all that has happened in the past few years it is definately time to start looking at 401k Plans in a different way. We have started working with local banks with workplace benefit programs to encourage having a savings plan that takes into account the 401k savings. I have started talking about using those accounts in the place of loans or early distributions. The tax savings are not there of course, but neither is the penalty or the pay back.