Open Daily: 10am - 10pm | Alley door pickup 10am - 7pm 3038 Hennepin Ave Minneapolis, MN
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  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
401(K) Plans: Improvements Can Be Made to Better Protect Participants in Managed Accounts

401(K) Plans: Improvements Can Be Made to Better Protect Participants in Managed Accounts

United States Government Accountability

Paperback

Personal Finance

ISBN10: 1500697303
ISBN13: 9781500697303
Publisher: Createspace
Published: Aug 1 2014
Pages: 94
Weight: 0.53
Height: 0.24 Width: 8.50 Depth: 11.00
Language: English
401(k) plan sponsors have increasingly offered participants managed accounts-services under which providers manage participants' 401(k) savings over time by making investment and portfolio decisions for them. These services differ from investment options offered within 401(k) plans. Because little is known about whether managed accounts are advantageous for participants and whether sponsors understand their own role and potential risks, GAO was asked to review these services. GAO examined (1) how providers structure managed accounts, (2) their advantages and disadvantages for participants, and (3) challenges sponsors face in selecting and overseeing providers. In conducting this work, GAO reviewed relevant federal laws and regulations and surveyed plan sponsors. GAO interviewed government officials, industry representatives, other service providers, and 12 plan sponsors of varying sizes and other characteristics. GAO also conducted case studies of eight managed account providers with varying characteristics by, in part, reviewing required government filings.

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