Retirement Plan Provider Gimmicks All Employers Should Be Wary Of

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Back in the day when I was a kid growing up in Brooklyn (much scarier then in the 1970s and 80s), there was an electronics retailer named Crazy Eddie’s. The commercials were memorable as the sales pitchman Jerry Carroll claimed that Crazy Eddie’s price were insane. While the commercials were memorable, much of the advertising was misleading. When they would advertise a blowout price on an item, you would go to the store and always find out that the item was sold out (maybe they had 2-3 of these items in stock). Of course, Crazy Eddie imploded because of account- ing fraud. The retirement plan industry often uses a lot of gimmicks and sales pitches to hook retirement plan sponsors without these sponsors really know what they are getting into. So this article is about the gimmicks and marketing sales pitches that plan spon- sors should be wary of.

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Topics:  401k, Fraud, Retirement Plan, Revenue Sharing, TPAs

Published In: Business Organization Updates, Finance & Banking Updates, Labor & Employment Updates, Tax Updates

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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