Entries by Mark Zoril

It’s Even Worse Than I Think (#2 and #3)

I’ve written about this before but it is still shocking how horrendous some plans and fees are I come across in the marketplace.  Here are two examples from last year: Company A is a small employer with only 11 plan participants.  However, the plan has some nice assets at around $1,400,000. They contacted me through […]

A Checklist of Questions for Your Plan Advisor

You have a lot to do when it comes to running your business.  Any time you spend managing your 401k plan may seem like too much. With this in mind, though, you still need to know what’s going on with your plan.  Why is your fund lineup structured the way it is, how much do […]

Are 401k Fees Too Complex? Can Your Employees Understand Them?

NO THEY AREN’T AND YES THEY CAN!  You and your employees understand the price of many things you purchase.  However many people are truly perplexed about their 401k fees.  Why the big mystery?  Do your employees care about fees?  Do they trust that you understand the fees?  Or do they feel like its pointless to […]

Asset Based Charges – 401k Plans – Lawsuit – Inevitable

401k and other retirement plans that pay for either record keeping or advisory guidance as a percentage of assets are getting ripped off.  We explain here why employers should purchase these support services as a flat fee or on a per person basis.  It’s a great way to save big money on plan expenses.  Unfortunately, […]

The 401k and Pop Culture

The 20 minute segment by John Oliver of LastWeekTonight from early June has been making the rounds in the financial services industry.  If you haven’t seen it yet, here it is.  Very clever and – warning – with adult humor throughout.  Many laughs and the spoof commercial at the end is fantastic. Generally speaking, his […]

401(k) Deception

We have all been in a situation where we have received completely conflicting information when shopping for products from different companies.  It can sometimes be easy to determine the right choice – other times its much more difficult. It happens in other areas of life too.  For example, after our daughter’s birth, one of the […]

The Truth About Investment Consultants and Advisers

I have been looking for a way to describe most of the guidance provided by those in the financial services industry. I’ve struggled with the best way to put it. However, the quotable Warren Buffet provided a great take on how investors waste money on investment advice.  In this case, he is referring to “sophisticated” […]

A Small Employer Gets Sued

I suppose it had to happen. LaMettry’s Collision in Minnesota, clearly a small employer, has been sued by a couple of its employees (not sure if they still work there) for excessive plan fees.  This is not the precise reason, but it’s effectively the situation.  From what I can tell, the fees are truly ridiculous. […]

Being Uninformed or Misinformed – Which is Worse?

I’ve heard skeptics on the quality of media reporting say that people would be better off being uninformed than misinformed.  Whether this is true or not of the media, it is certainly true of the financial services industry!  I don’t advocate that people be ignorant of developments in the financial markets or economy.  But I […]

403b Plans are Worse Than 401k Plans

Most non-profit organizations can offer either a 403b or a 401k plan to help their employees save retirement.  Since for-profits cannot use the 403b plan they commonly use the well known 401k. When I talk with non-profits, we generally discuss the pros and cons of using a 403b plan.  Even though there are many technical […]