Managing Your Firm's 401(k) Plan

Praise for Managing Your Firm's 401(k) Plan Managing Your Firm's 401(k) Plan provides an excellent source of information on 401(k) plan administration that both retirement specialists and human resources generalists will find extremely valuable. This book will prove to be an indispensible resource in any HR department library. -E.W. Lee Achord, CEBS, Vice President, Talent Management & Benefits Administration, Wackenhut 401(k) plans hold trillions of dollars of retirement wealth in America. What started as a way to save a little extra money for retirement has now turned into a critical source of security for millions of people. This field has become a serious business, especially for the thousands of corporate officers and finance and human resource professionals that are relied upon to effectively design or manage their firm's 401(k) plan. Written to assist finance and benefit professionals in becoming better informed consumers of plan services as well as empowered managers of their firm's 401(k) plans, this reliable resource puts the operation, oversight, and management of 401(k) plans in perspective, and focuses on the financial, fiduciary, and regulatory issues associated with it. Filled with in-depth insights and expert advice, Managing Your Firm's 401(k) Plan offers unparalleled guidance on establishing effective governance practices, avoiding simple compliance errors, and maximizing plan design. Along the way, it also answers important questions, including what is your role in helping employees reach a secure retirement and what types of risks are you assuming? Accessible and informative, Managing Your Firm's 401(k) Plan presents an objective overview of this vehicle and offers practical insights on its role in today's organization. Managing a 401(k) plan is not an easy task, yet each year, thousands of corporate officers and finance and human resource professionals are relied upon to effectively design or manage their firm's 401(k) plan. In this role, the decisions they make will have a meaningful effect on the retirement wealth of their co-workers. Nobody understands this better than Matt Smith, and now, with Managing Your Firm's 401(k) Plan, he focuses on the financial, fiduciary, and regulatory issues associated with 401(k) plans to help finance and benefit professionals become better informed consumers of plan services as well as empowered managers of their firm's 401(k) plans. In addition to this information, Smith and his expert contributors at Aon Consulting help you answer fundamental questions such as: What is your role in helping employees reach a secure retirement? How does your plan design affect participant decision? What kinds of risks are you assuming? Other issues addressed along the way include: The employer's role in the 401(k) plan Establishing 401(k) plan governance Managing the 401(k) plan's investment menu Monitoring record keeper performance Communicating a 401(k) plan effectively with employees Helping participants manage their retirement income And much more While there are plenty of books on 401(k) plans written for individual investors, there are very few resources for professionals involved in 401(k) management, operation, or oversight. This book fills that void by helping you excel in plan design, establish effective governance practices, and avoid simple compliance errors.