Tag Archives: retirement plan

Are You Really Saving Enough for Retirement?

image of retirement plan

Why an early start (and accepting some risk) matters.

Provided by Reeve Conover – Conover Consulting

Are you on track to save $1 million or more for retirement? If you are 50 or younger, you may need that much in savings to generate the kind of retirement income you prefer.

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Retirement Plan Trustee? Read this!

image of retirement plan

SUMMARY-  Duke University may be liable:  they used multiple administrators, raising costs.  They had 400 investment options, limiting their ability to lower costs.  The Prudent Man rule comes into play again, and they failed to replace historically poor performing investments. – Reeve

While several claims were dismissed, several were allowed to move forward.

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Little Things That May Help Your Retirement Saving

coins in jar with retirement written on front and clock in background

Over time, these seemingly small factors could make a major difference.

Provided by Reeve Conover – Conover Consulting

Saving for retirement takes decades and demands the investment of significant amounts of your income. As this major effort unfolds, you should recognize that some subtle factors and seemingly minor decisions could end up making a sizable and positive impact on your financial future.

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Excessive Retirement Plan Fees

As an Accredited Investment Fiduciary, this is the compliance area that worries me the most.  In the last week, notice of suit has been filed against Everett Jones, Cornell University, Northwestern University, Columbia University and the University of Southern California.  These suits allege excessive fees, and alot of that comes from requiring “proprietary funds” in the plan.  A clear example of this seems to be Edward Jones, as the suit alleges that employees are required to invest in high-fee Funds owned/controlled by Edward Jones.

To be clear, none of these companies have been found guilty, and may in fact be found innocent.  It is simply this – excessive fees is the current “hot” lawsuit – and clearly it is avoidable.  Why set your company up for this?

My clients wonder why I provide them an annual fee benchmarking reports, and monitor the investments so closely, and the answer is simple – to avoid this issue in the first place.

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Reeve Conover is a Registered Representative. Securities offered through Cambridge Investment Research, Inc., a Broker/dealer member FINRA/SPIC. Cambridge and Conover Consulting are not affiliated. Licensed in SC, NC, NY, CT, NJ, and CA.
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