When it comes to saving, we all know its’ importance. Wisely investing throughout our career can afford us a retirement with little financial worry. With defined contribution plans, employee’s benefits during retirement depend on the contributions made and the investment performance of the assets in his or her accounts.
According to Fox Rothschild LLP, around 94 percent of private employers offer defined contribution plans. About 90 percent of these companies offer 10 or more investments in their fund lineup, while 56 percent offer more than 15 choices!
Deciding which investment options to provide can be tough. Most companies report that their top considerations for which funds they offer are fees, historical and expected returns, and diversification. The survey also reveals about 79 percent of employers have concern around employee participation and simplifying the enrollment process.
“There is not one right answer to what a plan should look like, but when considering how to administer your plan, there is no harm in asking…”. If you have questions regarding benefits and retirement, let Sheakley help! We’re committed to providing support and answers to your questions.
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