I recently renewed my monthly contribution to one of my favorite charities — Reading Is Fundamental (RIF). As I was reviewing some of RIF’s great programs, it made me think about how important reading is to both plan sponsors and plan participants.
Here’s a question I like to ask sponsors: Have you read everything about your plan?
That would include the complete plan document, summary plan description (SPD), investment policy statement (IPS), trust agreements and all employee education materials, including websites and ongoing distributions. Wow, that’s a lot of information! But for the plan administrator, “cover-to-cover” reading of plan docs is critical. A “designated” reader or team should have read, reviewed and understood every printed page, web page, email and letter associated with the plan.
Read the rest of “Reading is Fundamental.”
Jeffrey Hemker is Invesco’s National Sales Director, Retirement Division.
Reading Is Fundamental is not affiliated with nor endorsed by Invesco.
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