Do you remember CARFAX being around when you bought your first used car as a teenager? Probably not, since the company didn’t exist until 1984 — and only served automobile dealers (not the general public) until December 1996. Today, it would be unthinkable to consider a used car purchase without first requesting the CARFAX report, which contains important data about the car you are considering — like its title history, whether it’s been wrecked, flooded or salvaged, odometer readings, and certain accident and service records.
“Let the sleeping dog lie.” “The squeaky wheel gets the oil.” “If it ain’t broke, don’t fix it.”
Some call this conventional wisdom — but that’s not smart when it comes to your 401(k). Because in the world of 401(k) plans, what you don’t know really can hurt you. And for the overwhelming majority of Americans, their 401(k) plan balance will grow to become the largest single asset — and by far their most significant retirement account. So, inspired by CARFAX, Triune now offers its 401(k) Accountability Report.
We offer this report as a FREE service, to help you benchmark four key areas of your 401(k) plan:
Expenses: Do you know how much your 401(k) REALLY costs? Not just the investments — but ALSO the expenses for plan record-keeping, administration, brokerage fees, commissions, etc.? How does this all-in cost compare with what that cost SHOULD BE in today’s marketplace?
Employee Advising: How many people on your team are on-track to retire with dignity someday? Does each of them know if they are on-track? Do you know?
Performance: How do your funds stack up? Are high fund fees unnecessarily dragging down plan balances? Is everyone on your team in a diversified mix of funds that is right for them?
Plan Design & Service: Do you get mileage from your plan’s Roth provision? Do you review your written Investment Policy Statement at least annually? If your plan were audited, could you document that you’ve had regular, meaningful plan reviews?
Inertia is a powerful force in the 401(k) universe, so continuing with a poor performing or costly 401(k) may lead to very disappointing outcomes. Our vision is to come alongside you, to help you be intentional about benchmarking the four elements of your 401(k) that matter the most. To learn more, contact me, Geoff Huber, today at firstname.lastname@example.org 913-825-6100.