401(k) Specialist Issue 2 - 2022 - 5
401(k) NEWS YOU CAN USE
Small Employers Curious About PEPs, But...
SPEAKING OF SMALL employers, many want to learn more about
pooled employer plans (PEPs), but they might not be ready yet to
pull the trigger on joining one just yet.
According to SRI research, small employers that are considering
adding a defined contribution (DC) plan are interested in learning
more about PEPs--but small employers with a current plan are also
interested.
" While small employers without current retirement plans are interested
in exploring PEPs, few expressed interest in adding them, "
said Deb Dupont, assistant vice president, Worksite Retirement, SRI.
Employers with 10-99 employees are significantly more interested
in learning more about PEPs, especially the largest (small) employers,
those with 50-99 employees.
Reasons for lack of interest in PEPS are relatively consistent
across employer sizes up to 99 employees. Sixty-six percent of employers
that have a retirement plan have no plans to make changes.
Almost four in 10 small employers want to retain control of plan
design decisions and an additional third of employers don't think a
PEP would reduce plan costs. A similar number of small employers
cited wanting to retain control of vendor selection as the reason not
to switch.
Buffett Blasts Financial Advisors and the
'Crumbs They Catch'
OUCH. FINANCIAL ADVISORS were a target of ire at Berkshire
Hathaway's shareholders' meeting in May.
Although the term " financial advisor " seemed to mean broker
in their amusing yet biting comments, legendary investors Warren
Buffett, 91, and Charlie Munger, 98, were direct in their criticism of
Wall Street and its role in speculative investing.
" Wall Street makes money, one way or another, catching the
crumbs that fall off the table of capitalism, " Buffett said. " They don't
make money unless people do things, and they get a piece of them.
They make a lot more money when people are gambling than when
they are investing. "
It only got worse from there.
" I hate to use the example, but you can have monkeys throwing
darts at the page, and, you know, take away the management fees
and everything, I'll bet on the monkeys, " he added.
ISSUE 2 2022 | 401kSpecialist.com
5
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401(k) Specialist Issue 2 - 2022
Table of Contents for the Digital Edition of 401(k) Specialist Issue 2 - 2022
Table of Contents
401(k) Specialist Issue 2 - 2022 - Cover1
401(k) Specialist Issue 2 - 2022 - Table of Contents
401(k) Specialist Issue 2 - 2022 - 1
401(k) Specialist Issue 2 - 2022 - 2
401(k) Specialist Issue 2 - 2022 - 3
401(k) Specialist Issue 2 - 2022 - 4
401(k) Specialist Issue 2 - 2022 - 5
401(k) Specialist Issue 2 - 2022 - 6
401(k) Specialist Issue 2 - 2022 - 7
401(k) Specialist Issue 2 - 2022 - 8
401(k) Specialist Issue 2 - 2022 - 9
401(k) Specialist Issue 2 - 2022 - 10
401(k) Specialist Issue 2 - 2022 - 11
401(k) Specialist Issue 2 - 2022 - 12
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401(k) Specialist Issue 2 - 2022 - 43
401(k) Specialist Issue 2 - 2022 - 44
401(k) Specialist Issue 2 - 2022 - Cover3
401(k) Specialist Issue 2 - 2022 - Cover4
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