By: Dan Savage, Senior Vice President and Senior Trust Officer
Business owners know that a high-quality 401(k) plan is an essential fringe benefit, valuable to both company and employee alike. Some also believe that offering 15 to 25 mutual funds, daily valuation, online statements, reasonable cost, and perhaps a few slick online planning tools somehow make their plan “first-rate.”
We disagree. We believe that the above-listed attributes, while important, are insufficient to qualify a plan as first-rate.