'Easy' Doesn’t Always Do it — ASPPA Philadelphia Conference Preview

By Robert Kaplan • March 27, 2015 • 0 Comments

A very large client approached us recently and asked about ways that we could enhance their 401(k) plan and have it become more effective for the employees’ success in saving for retirement.

We discussed adding an automatic enrollment and automatic escalation feature but the client seemed more interested in a safe harbor approach. The preparation and discussions from that meeting provided me with the content for my April 30 session on the Pros and Cons of 401(k) Plan Designs at the ASPPA Regional Conference in Philadelphia.

This session will discuss some of the advantages but also the “watch outs” when implementing a Safe Harbor arrangement. We’ll also discuss the resurgence in interest of adding an after-tax deferral source to an existing plan and one of the major pitfalls in doing so, as well as the increase in lifetime income options offered by providers.

Of course, no discussion of a 401(k) design would be complete without a review of the pros and cons of auto enrollment and escalation.

I hope you attend this session and bring your questions and real case experiences, as we all look forward to a highly interactive session at ASPPA’s Philadelphia Regional Conference!

ASPPA’s Philadelphia Regional Conference will take place April 30-May 1. To view the agenda, and to make your reservations, please click here.

Pick up as many as 14 hours of continuing education credit at ASPPA’s regional conferences!

Robert M. Kaplan, CFP, CPC, QPA, APA is Vice President, National Training Consultant for Voya Financial.