401k Plan Sponsors’ Fiduciary Obligation to Former Employees

“It’s a seller’s market for job seekers right now. With unemployment at historic lows thanks to a thriving economy, those looking for greener career pastures have a good chance of finding them.

The excitement generated when getting a better job, however, may overshadow some important decisions you have to make. For example, what happens with your retirement savings account at your former employer? With 401k plans mostly on some form of autopilot, employees may be less conscious of their own assets than they were, say, a dozen years ago.

For years now, the industry has been making much of “set-it-and-forget-it.” But does this philosophy have a downside?” Continue reading.

Source: FiduciaryNews