3ethos CEO Don Trone was quoted in an article on recent 401(k) regulation on participant advice.
No matter what happens in Congress, the American Benefit Council's Hammersla said plan participants need to be educated on retirement saving strategies. Trone agreed, saying that "investment stewardship training" is key.
"We should continue to fund and support participant education, but the plan sponsors themselves need education," Trone said. He estimated savings of an average of 50 basis points (one-half of 1%) per plan simply through better asset management. "Training and education is a relatively cheap solution, and should get bi-partisan support," he said.