Friday, July 17, 2009

Snakes On A Plan

If you’re not paying close attention to your 401(k) plan, you may be in for the same kind of thrills as the movie with a similar name. So…what can you do to make sure that your 401(k) plan has a terror free summer?

The best overall strategy is to benchmark your plan against other vendors, especially if you haven’t done so in the last three years. Just like any other industry, some vendors are more aggressive than others at any particular point in time, and several insurance companies have had a tough go of it. Make sure you have the right combination of funds and expense structure.

If you don’t have a regular procedure to monitor funds, then now is a good time to start. June 30 numbers are fresh and readily available