Retirement plans offer financial security and peace of mind. For participants, retirement planning allows for confidence in retirement and flexibility to meet life’s unexpected turns.
Sometimes I just get amazed at the programs some of the people marketing 401(k) rollovers use. My latest moan, is how exit strategy programs are designed.
A Primer on Plan Documents
A qualified retirement plan is governed by rules outlined in a written plan document. This plan document tells the employer and employees how the plan is supposed to work; what the eligibility and vesting requirements are, how benefits are determined, and when benefits will be paid out. For most plans, including almost all Benetrends clients plans, the plan document is comprised of at least three key pieces. Each one is important and has a special purpose.