Trustees of 401(k) plans have an obligation and responsibility under DOL regulations to operate the plan for the “sole and exclusive benefit” of plan participants. Although most plans have the necessary features to monitor fees, investments and administrative procedures, their arrangements for financial education usually fall short.
Lectures or web-based presentations to help participants generally do not lead to the changes in behavior needed to assure a successful retirement. Robust Internet tools often available are typically used by less than 5 percent of participants.
Cygnet Institute has a successfully integrated concepts of experiential learning with mass customization techniques to deliver tools to help 401(k) plan participants tackle the actuarial and investment decisions to build their private “pension plan.”
View 3-Session 401(k) flier.