Ep 154: Retirement Plan Changes SMH

The information I am providing is my opinion and not necessarily that of my firm or this platform.  I am only providing general educational information and not any customized investment recommendations. You should consult with your Financial Advisor, Tax Advisor or Attorney on your specific situation. Nothing shall be construed as Financial, Tax or legal advice or recommendations.   Sarasota Memorial Hospital has recently made significant updates to its retirement plan, aiming to enhance investment choices, reduce costs, and better support employees' retirement goals. Kris Flammang highlights that these changes were made with participants' best interests at heart, focusing on improving investment options by introducing new funds and lowering expenses, ultimately providing employees with more beneficial choices. He urges employees to review their allocations and adjust contributions accordingly to align with their retirement goals. Similarly, Collin Habig values the plan's updates, particularly the inclusion of target date funds and the automatic rebalancing feature, as a positive move to keep employees on track with their retirement objectives. He encourages participants to assess their new investments and make necessary adjustments to ensure their portfolios reflect their individual saving goals.   Here’s what to expect this episode: Enhancements to the investment lineup and reduction in investment expenses can significantly impact employees' retirement savings. Automatic redirection of balances from eliminated funds to replacements, rebalancing of accounts, and updates to default investment options contribute to ensuring employees' retirement savings align with their goals. Participants should review their new investments, ensure future contributions align with their goals, and update beneficiaries if needed.   Connect with Collin Habig https://www.linkedin.com/in/collinhabig/   Connect with Kris Flammang https://www.linkedin.com/in/kristopher-flammang-lpfadv/ https://www.lpfadvisors.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices