Smart401k Blog

  • Lessons from a failed 401(k) plan

    Let's start with a quick recap. The state of West Virginia switched to a 401(k) because like many employers they were facing continually increasing costs from their defined benefit ("db") plan. When they decided to switch to a 401(k) they instituted a generous employer contribution of 7.5% vs. the most common private sector match of 50% on the dollar up to 6% of an individual's salary. The plan offered stock and bond mutual funds, a money market fund, and an annuity. Seems like a pretty good set-up... right? Well, besides the fixed annuity part, but that's a personal opinion.
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  • What have we learned since Friday? The market needs an identity.

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