How an Employer Can “Reboot” Their 401(k) Plan

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In movies and television, a reboot is a mechanism to discard all previous continuity in a series and start anew with fresh ideas. So all established fictive history is irrelevant to the new storyline, and the series is started over as if it’s brand new. So reboots are attempts to rescue franchises that have grown "stale". The Daniel Craig James Bond movies can make us all forget Roger Moore in space in Moonraker and Pierce Brosnan’s invisible car in Die Another Day. The Christopher Nolan Batman Trilogy certainly made us forget George Clooney’s nippled bat suit in Batman and Robin. However, in my mind, only Jack Lord can play Steve McGarrett in Hawaii Five-O. When it comes to 401(k) plans, plan sponsors can reinvigorate their retirement plan by revamping or “rebooting” it through new options that could improve how it operates as an employee benefit. So this article is how about plan sponsor can improve their 401(k) plan through a “reboot”.

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Tax

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Ary Rosenbaum, The Rosenbaum Law Firm P.C. | Attorney Advertising

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