Retirement Plans: Simple Is Not Always Good
Automatic Merchandiser › Vol. 52 Nbr. 4, May 2010
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Summary
As a result of this maze, many financial advisors and business owners settle for "the plan in a box." These retirement plans are referred to as prototype plans. The premise of the prototype plan is "one size fits all." These plans are easy to understand, simple to administer and cheap. The word "cheap" reminds me of something my mother was fond of saying, "If it is too good to be true, it is!"
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Retirement Plans: Simple Is Not Always Good
The selection of a retirement plan is fraught with peril for the uninitiated. The myriad of plans (qualified plans, defined benefit plans, etc.) and the host of regulations which govern them is daunting even to the financial advisors that promote them to small business owners.
As a result of this maze, many financial advisors and business owners settle for "the plan in a box." These retirement plans are referred to as prototype plans. The premise of the prototype plan is "one size fits all." These plans a...See the full content of this document
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