Do you know what % of 401(k) plan sponsors want to reduce their plan risk and potential fiduciary exposure?
If you are concerned about plan risk, you are not alone. According to Deloitte’s Annual DC Benchmarking Survey, what % of plan sponsors are concerned about 401(k) plan risk and fiduciary exposure?
The correct answer is …
A. According to the Annual Defined Contribution Benchmarking Survey from Deloitte and the International Foundation of Employee Benefit Plans, 77% of plan sponsors expressed concern about their 401(k) plan risk and potential fiduciary exposure.
Guess what? RLE can lower your risk and make your 401(k) plan safer. By preventing loan defaults through simple, innovative loan insurance, plan sponsors can reduce their plan risk and potential fiduciary exposure. Employees who are protected by RLE avoid defaults upon involuntary job loss and the associated cash outs. That reduces your plan risk, improves their retirement outcomes, and even decreases the likelihood of an audit by the Department of Labor – loan defaults are on their radar.
RLE reduces this troublesome source of plan leakage for employers and is an effective means to improve employee financial wellness. Contact us today to see how we can help your organization reduce its 401(k) plan risk.