Beating Back High Fees in 401(k) Plans

Excerpt: "Amid a market downturn that wiped one third of 401(k) savings off the books, fees are a new focus at kitchen tables, in courts and Congress. In the 12 months following the market's peak in October 2007, stock holdings in 401(k)s and other defined-contribution plans lost more than $1 trillion in value . . . . And over a 30-year career, an extra 0.5% annual fee can slash a nest egg's purchasing power at the time of retirement by more than 12% . . . ." (The Wall Street Journal)

[Guidance Overview] Proposed New Rules on 401(k) Plan Investment Advice from DOL

Excerpt: "The new proposed regulations replace the final regulations that were issued in January, 2009, but then deferred and finally withdrawn in November in response to commenters' concerns that the administrative class exemption in the regulations might not adequately mitigate potential self-dealing by investment advisors. The DOL has addressed these concerns by excluding the class exemption from the new proposed regulations." (Pillsbury Winthrop Shaw Pittman LLP)

[Guidance Overview] Providing Individual Investment Advice Under Participant-Directed Plans: New DOL Proposed Regulations

Excerpt: "The Pension Protection Act of 2006 . . . amended both ERISA and the Internal Revenue Code to add a statutory exemption to permit an adviser to give investment advice through an 'eligible investment advice arrangement,' provided the adviser itself does not receive an additional fee as a result of the investment (unless the advice is given through a computer model)." (Drinker Biddle & Reath LLP)

DOL/Treasury Request for Information on Lifetime Income Products (PDF)

4 pages. (Dechert LLP)

In-Plan Roth Conversions Under Tax Extenders Legislation

Excerpt: "An amendment to a pending Senate bill to extend expiring tax cuts (H.R. 4213) would allow Roth conversions in ?401(k), ?403(b) and eligible governmental ?457 deferred compensation plans that have Roth accounts. (Another amendment to the extenders bill would allow Roth accounts within ?457 plans, which are not provided for under existing law.)" (Tax Management Inc.)

Eliminating Ethnic Inequities in 401(k) Plan Participation

Excerpt: "All eligible employees may have equal access to their employer's 401(k) plan, but participation is anything but equal. A study by Ariel Investments and Hewitt Associates, '401(k) Plans in Living Color: A Study of 401(k) Savings Disparities Across Racial and Ethnic Groups,' confirms what individual client studies have shown for years - that ethnicity is the No. 1 predictor of 401(k) plan participation." (Employee Benefit Adviser; free registration required)

Senate Bill Would Permit Roth Conversion Within 401(k)s

Excerpt: "According to a statement from Brian Graff, Executive Director/CEO of The American Society of Pension Professionals & Actuaries (ASPPA), an amendment to H.R. 4123 was adopted by unanimous consent that would allow distributable 401(k) account balances to be converted to Roth accounts within the 401(k) plan." (PLANSPONSOR.com)

Senate Bill Would Permit Roth Conversion Within 401(k)s

Excerpt: "According to a statement from Brian Graff, Executive Director/CEO of The American Society of Pension Professionals & Actuaries (ASPPA), an amendment to H.R. 4123 was adopted by unanimous consent that would allow distributable 401(k) account balances to be converted to Roth accounts within the 401(k) plan." (PLANSPONSOR)

[Guidance Overview] Update on Regulation of Target Date Funds (PDF)

Excerpt: "Many expect additional regulatory initiatives regarding target date funds from Washington this year. Here we analyze the various initiatives being considered." (J.P. Morgan)

The IRS 2010 Guidance Plan: A Look at What's Coming

Excerpt: "Each year the IRS issues a list of its top-priority guidance initiatives for the year, called the guidance plan. The long-awaited list of items was issued in late 2009, and sets forth the plan for issuing much-needed guidance for the July 2009?June 2010 year. . . . A look at a number of provisions from the guidance plan that remain to be addressed, based on the type of plan, will give us an idea of what is in store for the coming year." (Groom Law Group)

IRS Compliance Projects Identify Common Errors in Small Plans and Top-Heavy 401(k) Plans

Excerpt: "The IRS has released results and findings from two examination projects under the Learn, Educate, Self Correct and Enforce (LESE) compliance initiative. The projects, which focused on defined contribution plans with less than $250,000 in assets and top-heavy 401(k) plans, highlighted compliance problems among small plans, such as the inadequate bonding of plan fiduciaries." (Wolters Kluwer Law & Business)

[Guidance Overview] The Impact of New Required Reporting Requirements; 401(k), 403(b) and 401(a) Plans Affected (PDF)

29 pages. Includes excellent listing of the service-providers associated with retirement plans, with descriptions of the services they provide and their associated codes for use Form 5500 Schedule C for the 2009 plan year. (PlanTools(tm), a subsidiary of Fiduciary Risk Assessment LLC)

Reish & Reicher ERISA Controversy Report, March 2010 (PDF)

Articles include 'Issues In Terminating Defined Benefit Plans', 'IRS Audits and Bonding for 401(k) Plans', and 'The Litigation Benefits of a Self-FundedDisability Plan." (Reish & Reicher)

[Guidance Overview] New Rules for 401k Advice

Excerpt: "Lax standards among financial advisers who manage 401(k)s and IRAs are in the crosshairs of the White House, which has proposed rules that require advisors to either use independent computer models that spit out advice, or else avoid steering workers into funds to which they are tied or that pay them a fee based on their recommendation." (Registered Representative)

Employer-Sponsored Pension Plans Still Fall Short As Retirement Parachute

Excerpt: "Even before the financial crisis, the average balance in 401(k)s for workers nearing retirement was just $78,000. After the market plunged, that average was reduced to about $56,000 . . . . That's just not enough for a comfortable retirement, says Roger W. Ferguson Jr., president and chief executive officer of TIAA-CREF," (National Public Radio)

Will Annuities Be Mandatory in Qualified Plans?

Excerpt: "What is being considered is some form of a requirement that participants in a qualified pension or profit-sharing plan would have to have some of their assets in an annuity or some other investment that will provide income for life. It is impossible to predict at the present time what form any such requirement will take, or even if it will ever actually be implemented." (Morningstar)

Top Ten Things to Do If Your 401(k) Plan Fails Nondiscrimination Testing

March 2010 issue of TRI-AD's newsletter. Excerpt: "401(k) plan sponsors generally do not relish the annual call from their 401(k) consultant with their plan's nondiscrimination testing results. If your plan regularly passes testing, that's great news. However, if you are not so fortunate or your plan is on the cusp, there are steps you can take to greatly increase your plan's chances of success." (TRI-AD)

[Official Guidance] Federal Register Version of Text of DOL Proposed Participant Investment Advice Regulation (PDF)

11 pages. Written comments on the proposed regulations should be submitted to the Department of Labor on or before May 5, 2010. Excerpt: "The Department proposes that the regulations contained in this notice will be effective 60 days after publication of the final regulations in the Federal Register. The Department invites comments on whether the final regulations should be made effective on a different date." (U.S. Employee Benefits Security Administration)

Do You Really Want To Be A 401(k) Consultant?

Excerpt: "there are several major changes that will have notable consequences on the retirement plan marketplace. So, it is easy to become discouraged in working in this area. But, true 401(k) consultants see these issues as opportunities rather than obstacles. Those financial advisors who are willing to adapt their practices to service the small- to mid-sized plans may be well positioned to dominate in the marketplace." (On Wall Street)

Too Many Choices Is Problem That Can Paralyze

Excerpt: "Understanding how we choose could guide employers and policy makers in helping us make better decisions. For example, most of us know that it's a wise decision to save in a 401(k). But studies have shown that if more fund options are offered, fewer people participate. And the highest participation rates are among those employees who are automatically enrolled in their company's 401(k)'s unless they actively choose not to." (New York Times; free registration required)

[Official Guidance] Text of Proposed DOL Investment Advice Regulation (PDF)

43 pages. Excerpt: "[T]he proposed regulations contain clarifying language intended to address comment letters, mentioned above, that expressed concerns with the provisions of the final rule that interpret the statutory exemption's fee-leveling requirement. . . . The proposed regulation also provides, in connection with investment advice arrangements that use computer models, that a computer model shall be designed and operated to avoid investment recommendations that inappropriately distinguish among investment options within a single asset class on the basis of a factor that cannot confidently be expected to persist in the future . . . ." (U.S. Employee Benefits Security Administration)

[Official Guidance] Fact Sheet on DOL's New Proposed Investment Advice Regulation; Revises Previous Administration's Regulations

Excerpt: "The Pension Protection Act of 2006 (PPA) amended [ERISA] to create a new statutory exemption from the prohibited transaction rules to expand the availability of investment advice to participants in 401(k)-type plans and individual retirement accounts (IRAs), subject to safeguards and conditions. The Department of Labor (DOL) is publishing in the Federal Register a proposed rule to implement these PPA provisions and make investment advice more accessible for millions of Americans in 401(k) type plans and individual retirement arrangements (IRAs). . . . A final rule and related class exemption published in January 2009 were withdrawn in November 2010 in response to concerns raised in public comment letters questioning the adequacy of the final class exemption's conditions to mitigate the potential for investment adviser self-dealing." (U.S. Employee Benefits Security Administration)

Report of 'Middle Class Task Force' Chaired by Vice President Biden; Retirement Policy Addressed (PDF)

56 pages. Describes Administration budget proposals and DOL regulatory projects affecting the middle class; floats the concept of a Guaranteed Retirement Account that would 'give workers a simple way to invest a portion of their retirement savings in an account that was free of inflation and market risk, and in some versions under discussion, would guarantee a specified real return above the rate of inflation.' Excerpt from the Table of Contents: 'Establishing Automatic IRAs; * Simplifying and Expanding the Saver's Credit; * Updating 401(k) Regulations to Improve Transparency and Reliability; * Administrative Actions to Improve Retirement Security; * Another Option: Safe Investment Choices" (Middle Class Task Force, Office of the Vice President of the United States)

[Guidance Overview] Another Question is Answered in the 401(k) Plans Q&A Column

A 401(k) plan wants to comply with ERISA Section 404(c). One of the requirements is that prospectuses be delivered to participants. Can the prospectus be delivered electronically or must a paper copy be delivered? (BenefitsLink.com)

Bernie's Employees Angry That Money Deducted from Their 401(k) Accounts Payed Cost of Terminating Bankrupt Company's Plan

Excerpt: "West Hartford's Hooker and Holcombe, a benefits consultant that now runs the plan, deducted 6 percent of the savings of every employee, current and former, who still has money in an account. For the last five years, the company contribution to the plan was in Bernie's stock, now worthless in bankruptcy. So nearly all of the deduction is from contributions from employees' salaries over the years." (Hartford Courant)

Exchange Traded Funds Have Only Established a Small Beachhead So Far in the 401(k) Market

Excerpt: "While the ETF industry's long-term growth has been impressive -- assets have increased by about $100 billion every year since 2002 -- almost all of those assets are held in taxable accounts, and with ETF sponsors always hungry for more, they have been increasingly targeting the more than $3.6 trillion held in 401(k) retirement accounts as their next territory to conquer. So far, they haven't had much luck." (Investment Advisor)

More 401(k) Plan Sponsors Are Dissatisfied with Their Recordkeepers, According to Report

Excerpt: "Among sponsors of 401(k) plans, overall satisfaction with their recordkeepers is down 30% to 40% across all markets, according to 401kExchange. The firm's 2009 Provider Rating Report found that only 25% to 35% of plans rated their provider a 4 or a 5, compared with more than 70% in 2006. Driven in part by the collapse of the stock market, plan sponsors are getting savvier about service and have begun holding their recordkeeper to a higher standard, says 401kExchange's president, Fred Barstein." (Employee Benefit Adviser; free registration required)

Make the Best of a Bad 401(k)

Excerpt: "[T]he truth is, many 401(k) plans have serious design flaws, from awful investment choices to missing company matches to outrageously steep fees. 'About one-third of 401(k) plans tend to be really bad, another third are questionable, while the top third are acceptable to varying degrees,' says Matthew Hutcheson, an independent 401(k) fiduciary in Portland, Ore." (Cable News Network)

How TIAA-CREF Funded Plans Differ from a Typical 401(k) Plan (PDF)

8 pages. Excerpt: "The typical 401(k) plan has fundamental flaws when evaluated as a vehicle for providing retirement income security. Even though both TIAA-CREF funded plans and typical 401(k) plans are based on defined contribution financing, there are profound differences between the two. Understanding these design differences will be valuable to policy makers looking to reform the 401(k) system and also to employers and 401(k) institutional providers in reshaping their plans." (TIAA-CREF Institute)

[Opinion] Foundation of 401(k) Advice Must Be Conflict-Free

Excerpt: "In summary, we believe the foundation of 401(k) advice must be conflict-free before you even start talking about how the rest of it works. The beneficiaries include employers, their participants, and though they do not realize it yet, advisors, brokers and the mutual fund/insurance companies who provide 401(k) platforms. If the DoL starts with a conflict-free foundation, it will be a huge win for 401(k) investors." (BeManaged)

Eight Factors that Determine Your Final 401(k) Balance

Excerpt: "Your 401(k) balance on the eve of retirement obviously depends on how much you save over your working life and on the performance of your investments. But there are other factors that influence the size of your next egg, including how early you start saving and when you leave the workforce. Fees, expenses, and early 401(k) withdrawals can affect your investment returns as well. Here are eight factors that determine the final balance of your 401(k)." (U.S. News & World Report)

Recovery in Target Date Funds? (PDF)

4 pages. Excerpt: "The evidence clearly supports our contention that target date fund managers should stick to their core mandate, prudently managing participant assets during the accumulation phase, and give up the unsupportable claim that they must manage to participant death.That claim is becoming increasingly transparent as a thinly disguised justification for trying to hold on to participant assets." (Target Date Analytics LLC)

401(k) Plans: What's So Great About Rollovers? Not the Fees

Excerpt: "One sometimes overlooked part of this decision is that once a 401(k) account balance is rolled into an IRA, the IRA owner most likely will pay retail-level fees for investments, such as mutual funds. If the client left the money in the former employer's 401(k) plan, he might pay very low fees or no fees at all." (Tax Management Inc.)

Evaluating Whether Your Target-Date Fund Measures Up

Excerpt: "So how does a plan sponsor get a deeper look into their target-date fund's structure and -- more importantly -- evaluate the structure on behalf of participants? One of the key variables that plan sponsors should consider is whether the target-date fund's glide path is managed 'to' or 'through' retirement. The asset allocation of target-date funds that are managed 'to' become fixed at retirement age, with no further shift out of equities occurring in retirement." (Workforce Management; free registration required)

[Opinion] On Plan Fees, Wal-Mart and the Costs of Bad Publicity

Excerpt: "Ouch. Here's a story [at iStockAnalyst] bashing Wal-Mart for having very high plan fees in its 401(k) plan, and wanting to know why in the world it doesn't negotiate lower fees when it has some ten billion dollars in assets to use as leverage. I am sure the plaintiffs' class action bar has the same question. A quick cross reference to BrightScope, by the way, bears out the allegation. [The target page has a link to] the original Forbes story on the issue." (Stephen Rosenberg of The McCormack Firm, LLC)

[Opinion] Annuities the Next 401(k) SNAFU? Advisers Offer Six Reasons Why

Excerpt: "Now, the government is looking for your ideas on the pluses and minuses of requiring the inclusion of annuities as an option in 401k plans . . . . [T]he Treasury and Labor Department 'also seek an explanation why most retirees, when faced with a choice of a lifetime income option or a lump-sum distribution, choose the lump-sum option.' FiduciaryNews asked several prominent independent investment advisers what they felt about this initiative. They revealed six major concerns every 401k fiduciary must consider regarding annuities." (Fiduciary News)

Disaster-Proofing the DC Plan

Excerpt: "Commentary: With many of the fires of 2008-2009 extinguished or at least under control, plan sponsors are now asking: What are the next ticking time bombs to avoid? Or to put it another way: How can we disaster-proof our plans against the next financial upheaval -- whatever that may be? Here are some approaches under consideration." (Workforce Management; free registration required)

Restored 401(k) Matches Point to an Economic Thaw

Excerpt: "Eighty percent of companies that suspended or reduced their company matches in 2009 say they are planning to restore it this year, according to Hewitt Associates, a human resources consulting and outsourcing services company." (The Washington Post; free registration required)

Mandating Company Stock Investments Does Not Shield Fiduciaries, DOL Says

Excerpt: "Defined contribution plan fiduciaries must assess the prudence of a company stock fund despite plan terms mandating the investment, according to a Department of Labor (DOL) brief filed in the US Second Circuit Court of Appeals (In Re: Citigroup ERISA Litigation). The trial court ruled that because the plan required a company stock option, committee members had no discretion and were not fiduciaries with respect to offering company stock. DOL asserts this would immunize fiduciaries from responsibility for 'even the most imprudent and disloyal investments' and was 'flatly contradicted' by ERISA." (Mercer LLC)

[Opinion] President and CEO, Investment Company Institute, Discusses Key Strengths of 401(k)s

Excerpt: "No matter how familiar we are with the 401(k) system, we must never take it for granted. It is a uniquely American creation ? innovative, flexible, driven by a unique private-sector partnership operating in a framework of sound policy decisions, and well-suited to the needs of an evolving American workforce. It enables workers of ordinary means to save, to share in the wealth and productivity of American business, and to enjoy a more secure retirement when their careers are complete. Its success is evident in the $8 trillion ? half of Americans' retirement assets ? that can largely be attributed to savings in defined contribution plans." (Investment Company Institute)

[Guidance Overview] IRS Rules on Variable Annuity Contracts Issued to and Distributed from DC Plans

Excerpt: "The IRS has privately ruled in IRS Letter Ruling 200951039 on a number of issues regarding the effects of Code Secs. 401(a)(9) and (11) and 417 on a proposed transaction in which variable annuity contracts will be issued to, and distributed from, defined contribution plans. Issues addressed include required minimum distribution requirements, election of payments in the form of a life annuity, and annuity payments under a qualified joint and survivor annuity." (Wolters Kluwer)

Entrepreneurs Turn to 401(k)s to Fund Start-Up Businesses

Excerpt: "Relying on retirement savings to fund a business venture is a significant gamble. Only about half of small businesses survive at least five years, says the U.S. Small Business Administration. And small-business bankruptcy filings increased 44% from the third quarter of 2008 to the same quarter in 2009, according to Equifax. Further, draining or depleting retirement funds can be catastrophic financially if the money cannot be replaced." (USA TODAY)

Employee Ownership Update for February 15, 2010

NCEO Executive Director Corey Rosen discusses the following: President Obama's budget proposal would reinstate capital gains rates at 20%, which could make ESOPs more attractive. The Obama budget also proposes a permanent fix that would index the AMT each year for inflation. Labor Secretary Hilda Solis has filed an amicus brief in a controversial case involving company stock in Citigroup's 401(k) plan. The NCEO's board elections are over. The Gathering of the Games meeting will be in May. (National Center for Employee Ownership)

Six Ways Employers Will Change 401(k)s in 2010

Excerpt: "Employers plan to get more involved in their 401(k) plans in 2010. The trend of employers automatically signing their workers up for retirement accounts is expected to continue this year. Many companies will also attempt to steer their employees into more appropriate investments, according to a new survey by Hewitt Associates, a human resources consulting firm." (U.S. News & World Report)

[Opinion] ASPPA Comments Requesting a Self Correction Component for Late Deposit of Employee Contributions Be Added to the Voluntary Fiduciary Correction Program

Excerpt: "In this letter we provide additional detail as to how a self-correction methodology would simplify and expand the availability of the Program while protecting plan assets." (American Society of Pension Professionals & Actuaries)

[Opinion] The Evolution of Plan Participant Investment Direction

Excerpt: "Participant direction will continue to be a standard 401(k) feature even as 401(k) plan design and practice continues to evolve." (Profit Sharing / 401k Council of America)

[Guidance Overview] Another Question is Answered in the 401(k) Plans Q&A Column

Can a Code Section 501(c)(5) tax-exempt agricultural organization sponsor a 401(k) plan? (BenefitsLink.com)

Disaster-Proofing the DC Plan

Excerpt: "Commentary: With many of the fires of 2008-2009 extinguished or at least under control, plan sponsors are now asking: What are the next ticking time bombs to avoid? Or to put it another way: How can we disaster-proof our plans against the next financial upheaval -- whatever that may be? Here are some approaches under consideration." (Workforce Management; free registration required)

Insurers Test Market as Obama Opens Door for 401(k)s

Excerpt: "Insurers and mutual-fund companies are starting to sell retirement accounts with built-in annuities in response to concerns Americans will outlive their savings. President Barack Obama on Feb. 1 called for a change in government rules to allow adding annuities to 401(k) retirement plans. While the annuities offer a steady stream of income in exchange for upfront payments, the price for peace of mind may be higher fees and less access to cash." (Bloomberg L.P. via BusinessWeek)

401(k) Fee Litigation, February 2010

Excerpt: "In addition to the lawsuits against plan sponsors, lawsuits have been brought against 401(k) plan service providers. These cases typically are based on allegations that the service providers are 'functional fiduciaries' under ERISA. [The outline and the chart are attached to the target page.]" (Groom Law Group)

Real Facts About Target Date Funds in Response to ICI's Myths and Facts (PDF)

9 pages. Excerpt: "In January, the Investment Company Institute . . . released a set of 6 'Myths' about Target Date Funds. The ICI list misrepresented many of the basic facts about target date funds and painted an overly rosy picture of the target date fund marketplace. This paper intends to set the facts straight. In so doing we received comments and thoughts from Joe Nagengast and Craig Isrealsen of Target Date Analytics and from Independent Fiduciary Matthew Hutcheson. This paper will look at how target date funds fit into America's retirement picture and address the 6 'Myths' identified by the ICI." (BrightScope)

Hewitt Associates Survey Reports More Companies Plan to Increase Efforts to Help Employees Save Sufficient Retirement Funds

Excerpt: "As a result, 80% of companies that suspended or reduced their company match in 2009 are planning to restore it in 2010, the poll found. In addition, employers continue to emphasize auto 401(k) plan features. Some 46% of employers that do not already offer automatic rebalancing said they are very or somewhat likely to add it in 2010, and nearly four in ten (38%) indicated they are very or somewhat likely to add automatic contribution escalation." (PLANSPONSOR.com)

Bank of America Merrill Lynch Finds Retirement Participants Boosting Savings

Excerpt: "401(k) participants took positive savings actions within their retirement savings plans in Q4 and throughout 2009, according to the latest quarterly '401(k) Contribution Activities Scorecard' report from Bank of America Merrill Lynch." (PLANSPONSOR.com)

[Opinion] Report by Towers Watson that Compared Differences in Investment Results Between 401(k) Plans and Defined Benefit Plans

Excerpt: "[W]hen you look at the full Towers Watson analysis, the result is more nuanced. Over the [time period] it has been conducting this analysis, Towers Watson noted that DB plans do better (on a relative basis to 401(k)s) when the markets are bearish -- and yet, 401(k) results, with all their faults and shortcomings, tend to fare better (at least at a plan average) when the bulls are in charge." (PLANSPONSOR.com)

IRS to Mail 401(k) Compliance Questionnaires

Excerpt: "New York accounting firm Eisner LLP has issued a warning that the Internal Revenue Service (IRS) will begin sending questionnaires to 401(k) sponsors to gather information about their level of compliance with applicable tax rules." (PLANSPONSOR)

The Impact of Automatic Enrollment on 401(k) Match Rates: A Methodological Note

Excerpt: "We recently completed a study showing that employers with autoenrollment have lower match rates than those without it, suggesting that employers may be trying to offset their higher costs. In contrast, the Employee Benefit Research Institute finds that employers with automatic enrollment have increased match rates since 2005. The two studies measure different concepts and use different time frames. A large sample of 401(k) plans reporting match rates before and after autoenrollment is needed to fully understand employer responses." (Urban Institute)

[Opinion] Obama's Automatic IRA, Annuity Schemes Would Be A Disaster

Excerpt: "'Given that fewer than 5% of the population contributes to personal IRAs, why would they choose to do so in the workplace?' said White, the author of America, Welcome to the Poorhouse. 'What's more, why are America's employee forced to bankroll their own retirement, rather than requiring higher employer contributions?'" (Jane White via Retirement-Solutions, LLC)

The New Economic Reality and the Workplace Retirement Plan: Sixth Annual Workplace Report on Retirement Planning (PDF)

12 pages. Excerpt: "Perhaps the most striking finding in this Workplace Report . . . was that 84% of Americans say the time is ripe for enhanced, redesigned workplace retirement plans. In fact, across the board, workers appear eager to embrace automated features. At Prudential, we take that as a clear mandate to 'redefine retirement,' so that once again workplace retirement plans can adequately and appropriately support the retirement dreams of millions of American workers." (Prudential Retirement)

[Opinion] Five Reasons Why a 401k Plan Fiduciary Should Reconsider Using ETFs

Excerpt: "This perfect storm of a product eliminates the conflict-of-interest problem wrought forth by12b-1 fees, offers virtual mutual funds you can trade anytime during the day (no more waiting until 4:00pm!) and has the allure of low cost. Who could ask for anything more! Sometimes something that appears too good to be true really is. Professionals have long known the potential pitfalls of ETFs. Only recently have these facts become more widely known." (Pandamensional Solutions, Inc.)

Some Considerations When Reinstating Your 401k Match

Excerpt: "As companies begin to evaluate their programs to reinstate the match, [the target page lists] several key areas that employers should pay particular attention to . . . ." (Rick Meigs via 401khelpcenter.com, LLC)