401(k) Specialist Issue 1 - 2022 - 8
401(k) NEWS YOU CAN USE
Retirement Plan Enrollment
Improves, Support Lacks
BOSTON-BASED RESEARCH firm DALBAR looked at traditional and
" quick " retirement plan enrollment experiences and found a " downturn
and occasional stagnation " in the already underwhelming guidance
offerings found during online enrollment.
It reported a decline in enrollment instructions, answers to frequently
asked questions and relevant support for various enrollment tasks.
Calling the lack of guidance " unfortunate, " the firm noted the already low
prevalence of readily available contact methods presented to enrollees.
Of the 23 traditional enrollment paths that were reviewed, basic
information was often hard to find. Only 30% of online platforms displayed
contact information without the need to visit a separate page.
And none of the seven express enrollment processes that were
reviewed provide guidance within the enrollment area. However,
the report found that one of the higher ranked companies, Securian
Financial, does help participants by providing guidance through
every step of the process, along with an always-present
contact menu that contains multiple options for reaching
out for assistance.
ONLINE
EXTRA
Check Out Fauci's Retirement Package
AFTER A LIFETIME in government service, he deserves it. Forbes
auditors at OpenTheBooks.com revealed recently that Dr. Anthony
Fauci's retirement benefits from the federal government are set to
exceed $350,000 per year-making it the largest federal retirement
package in U.S. history. His pension and benefits would continue
to increase through annual cost-of-living adjustments. Fauci has
logged 55 years of service as a federal employee.
Forbes noted Fauci's big salary boost came in 2004 under the
George W. Bush Administration when he received a " permanent
pay adjustment " for his biodefense work to " appropriately compensate
him for the level of responsibility. " From 2004 through
2007, Fauci received a 68% pay increase from $200,000 to $335,000
per year.
He was the single highest-paid federal employee for the second
consecutive year in 2021, earning more than President Joe Biden,
four-star generals and roughly 4.3 million other government
workers. As director of the NIAID, Fauci earned $434,312 in 2020,
the latest year available, up from $417,608 in 2019 and
$399,625 in 2018.
8
ISSUE 1 2022 | 401kSpecialist.com
ONLINE
EXTRA
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401(k) Specialist Issue 1 - 2022
Table of Contents for the Digital Edition of 401(k) Specialist Issue 1 - 2022
Table of Contents
401(k) Specialist Issue 1 - 2022 - Cover1
401(k) Specialist Issue 1 - 2022 - Table of Contents
401(k) Specialist Issue 1 - 2022 - 1
401(k) Specialist Issue 1 - 2022 - 2
401(k) Specialist Issue 1 - 2022 - 3
401(k) Specialist Issue 1 - 2022 - 4
401(k) Specialist Issue 1 - 2022 - 5
401(k) Specialist Issue 1 - 2022 - 6
401(k) Specialist Issue 1 - 2022 - 7
401(k) Specialist Issue 1 - 2022 - 8
401(k) Specialist Issue 1 - 2022 - 9
401(k) Specialist Issue 1 - 2022 - 10
401(k) Specialist Issue 1 - 2022 - 11
401(k) Specialist Issue 1 - 2022 - 12
401(k) Specialist Issue 1 - 2022 - 13
401(k) Specialist Issue 1 - 2022 - 14
401(k) Specialist Issue 1 - 2022 - 15
401(k) Specialist Issue 1 - 2022 - 16
401(k) Specialist Issue 1 - 2022 - 17
401(k) Specialist Issue 1 - 2022 - 18
401(k) Specialist Issue 1 - 2022 - 19
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401(k) Specialist Issue 1 - 2022 - 39
401(k) Specialist Issue 1 - 2022 - 40
401(k) Specialist Issue 1 - 2022 - 41
401(k) Specialist Issue 1 - 2022 - 42
401(k) Specialist Issue 1 - 2022 - 43
401(k) Specialist Issue 1 - 2022 - 44
401(k) Specialist Issue 1 - 2022 - Cover3
401(k) Specialist Issue 1 - 2022 - Cover4
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