Albany, N.Y. (PRWEB) September 12, 2013
Defined contribution plans are and will continue to be a mainstay in the market. But, are they working? The latest white paper from Strategic Benefit Services (SBS), Improving Participant Outcomes: An Action Plan for Plan Sponsors, looks at some of the factors that plan sponsors should consider when assessing the value of the retirement plan offered to their employees. It also considers steps they can take to provide greater assurance that employees will be able to generate sufficient income on which to retire.
According to the Investment Company Institute’s 2013 Investment Company Fact Book, at year end 2012, there was approximately $5.1 trillion invested in defined contribution retirement plans in the United States. Recent regulatory changes have placed even greater responsibility on plan sponsors, including heightened fiduciary responsibilities, fee disclosures, and expanded audit and reporting requirements. However, little has been done to ensure participants are any more prepared to retire. Are these defined contribution retirement plans serving the purpose for which they are intended, i.e., are employees on target to meet their retirement income goal? If the intended purpose is not being met, what role does or should the plan sponsor play to effect change?
To learn more, download Improving Participant Outcomes: An Action Plan for Plan Sponsors for free from the Strategic Benefit Services Web site: http://www.strategicbenefitservices.com.
SBS is one of the largest retirement plan consulting firms in the northeast, delivering tangible business results to finance and human resource leaders, thus enabling them to optimize their retirement plan offering to employees. SBS provides long-term client advocacy without the pressure of short-term quarterly profits, product margins, and stock price issues associated with publicly-traded companies. SBS, an affiliate of the Healthcare Association of New York State, is located near Albany, with offices in Rochester, New York; and Westfield, New Jersey.
Securities offered and sold through Healthcare Community Securities Corporation (HCSC), Member FINRA/SIPC, and a Registered Investment Advisor.