We all have to deal with clutter that piles up in our lives – whether it’s mail piling up on the kitchen counter, emails overtaking our inboxes or cell phone charger cords that tangle up our car consoles.
These days 403(b) plan sponsors face the task of cleaning up the clutter of “legacy assets” that threaten to clog up their plan administration efforts. Legacy assets are essentially the plan assets left at prior providers which plan sponsors still have to account for.
Finding the most efficient way to deal with these plan assets seems to be a recurring question lately. Employee Benefit Adviser recently asked me to offer some guidance on this confusing and concerning topic. Check out my answer in the video posted to their website. Read more
I have food allergies. Since I’ve gotten used to not having certain things in my diet, it’s more of an inconvenience than a problem. I can eat out, but I always have to give explicit instructions to the server. I used to work with a guy (who probably reads this blog) who called me “high maintenance.”
I was reminded of this during our recent national distribution conference. At dinner, I had the pleasure of sitting at the table of one of our field offices, with several people I had never met. After I had given instructions to the server, the woman sitting next to me brought up that “high maintenance” term again. Well, maybe I am.
This also calls to mind another area sometimes considered “high maintenance.” It’s a reason we hear occasionally from financial professionals as to why they don’t want to branch into the 403(b) plan space. Read more