risk

GAO on Crypto in 401(k)s: Risks and Oversight Challenges
Team SummitEmployer Resource Center, Fiduciary Governance, Plan InvestmentsComments are off for this post
Recent findings from the Government Accountability Office (GAO) highlight critical considerations for sponsors exploring cryptocurrency as a retirement plan investment option. The GAO report emphasizes that while cryptocurrency assets remain a small portion of the 401(k) landscape, they carry significant risk. Known for their high volatility, crypto assets like bitcoin can lead to substantial swings  Read More →
The Six Types of Fiduciaries in Retirement Plans You Need to Know
Team SummitEmployer Resource Center, Fiduciary GovernanceComments are off for this post
A retirement plan may have one or more fiduciaries who have distinct responsibilities, though many individuals and committees may serve in multiple fiduciary roles. Here is a brief overview of the categories of fiduciaries: Named Fiduciary This fiduciary should be named in the plan document and is considered the primary decision-maker for the retirement plan.  Read More →
Keeping Retirees in Your Retirement Plan
Team SummitEmployee Outcomes, Employer Resource Center, Fiduciary Governance, Plan Operations & AdminComments are off for this post
According to T. Rowe Price, some sponsors may anticipate that their relationship with participants — as well as their responsibilities toward them — will naturally wind down at retirement, even though only about one in five sponsors prefer participants to leave their plans when they exit the workforce. Sponsors should carefully weigh the pros and  Read More →

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