Your Company’s 401(k) and the New Year

Jan 10, 2023

All of your employees-participants have lost money in their 401(k) accounts unless they were in a guaranteed fund. Across the United States, investors and participants are unhappy with their outcomes, unsure and insecure about how 2022 will affect their retirement. Plus, they may question the Administrator and Trustee about the status quo. The recent passing of the updated Secure Act by Congress could additionally burden Administrators and empower participants to question their current fees and investments.

404(c) recommends Administrators and Trustees not only provide annual participation education and annual trustee reviews, in person or via zoom but to compare investments and fees at least every three years. Given that your participants have lost money this past year, this new year brings an excellent opportunity to review, shop, compare and improve investment selection and all fees.

It’s time to take action, and it’s absolutely free for you. Prosperity Financial Group, a 401(k) Fiduciary Advisory Firm in San Ramon with more than 20 years of retirement plan experience, will conduct a review and comparison. We can improve your current 401(k) by lowering fees and finding investment options with better outcomes for your participants and you will have met your 404(c) requirements. And it may be time to review the overall fees and work on lowering them for everyone while improving participation.

Give us a call at 925-314-8503 or elliot@prosperityfinancialgroup.com. Learn more about us at www.401k.prosperityfinancialgroup.com .

Your company, participants and you deserve the best 401(k) plan available at the lowest available fees. Don’t wait!

I look forward to meeting or zooming with you.

Sincerely yours,

Elliot Kallen

President

 

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