Retirement Plan Newsletters
Relevant news, updates and resources for retirement plan sponsors and fiduciaries.
In our October 2021 Sikich Retirement Plan Services newsletter, please see articles with discussions on:
DOL Cybersecurity Tips
In the age of relying heavily on technology, it is vital to take necessary cybersecurity precautions. You want to make sure that all sensitive information is highly protected. This document showcases some tips and trick for plan sponsors. Topics include Security Standards, establishing a Formal Cybersecurity Program, Using Multi-Factor Authentication, Cybersecurity Insurance and much more. The October issue of the Sikich Retirement Times has an extensive list of questions plan sponsors should ask their providers, items they should follow and things participants should know and do.
Regret Aversion: Fighting the FOMO of the Financial World
Regret aversion is a construct in behavioral finance theory that suggests investing decisions are, at least in part, driven by fear of later regretting a “wrong” choice. The fear is real — and it can have serious consequences for participants. This month’s newsletter will help you learn what can be done about FOMO (fear of missing out). It will also help with the dynamics of investing.
Self-Directed Brokerage Accounts (SDBA), To Add to Your Plan or Not: That is the Question
Participants may be attracted to self-directed brokerage accounts (SDBAs) because of the seemingly infinite choice of investment options. While it’s tempting to please these employees, much consideration should be given when contemplating an SDBA option for your qualified retirement plan. There are several fiduciary issues your committee should discuss, decide and document. The October issue of the Sikich Retirement Times will give you some food for thought on whether to add SDBA to your plan.
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