Some say there’s no comparison between 401(k)s and supplemental income plans using life insurance. But now that fee disclosures are available to 401(k) plan participants, you can compare their hard costs to non-qualified life insurance retirement plans.
Extremely large 401(k) plans can leverage the economy of scale and really reduce the cost of the plan. But most Americans are in smaller 401(k)s with less than 100 employees. Now that regulation 408(b)(2) has finally been implemented, all plan costs are disclosed.
Today on the Business Insurance Zone, national insurance columnist Steve Savant and cohost Eric Palmer discuss those fees and compare them to life insurance income plans where the death benefit is minimized.
The views expressed here are those of the author and not necessarily those of ProducersWEB.
Reprinting or reposting this article without prior consent of Producersweb.com is strictly prohibited.
If you have questions, please visit our terms and conditions
Steve Savant is the host of the daily producer show, Let’s Get Down to Business, and the weekly consumer show, Steve Savant’s Money, the Name of the Game. Both shows are sponsored by Ash Brokerage. Steve is the #1 online author and videographer of insurance content. Steve has been cited on FO... More
Steve Savant recently shared that How much should you save for retirement? - CBS Money Watch. How much will you keep in retirement? Is today’s tax deduction worth it, if tomorrow your Social Security is taxed? http://cbsn.ws/1sBStDU