A Chicago-based institutional retirement consultant recently published what is being promoted as “a practical road map for elevating retirement readiness and reducing fiduciary risk.”
Cerity Partners, a national independent financial advisory firm, announced this month the release of Partner Matthew Gnabasik’s book, “401(k) Best Practices: A Guidebook for Plan Sponsors.”
This is Gnabasik’s second book dedicated to helping plan sponsors and their retirement plan advisors create results-driven retirement plans. With contributions from Partner Ty Parrish, the book describes the simple changes plan sponsors can make today to increase retirement readiness for the majority of their employees. It is now available for download on Amazon.
Drawing on his 30-years of experience, Gnabasik’s book provides a strategic framework for evaluating and significantly improving 401k plans. Areas of focus include reconfiguring plan design, employing financial wellness, designing an investment lineup based on behavioral finance, and maintaining strong fiduciary governance.
“This book pulls together best practices to transform an organization’s 401k plan into a powerful engine for retirement readiness,” Gnabasik said. “No matter how big or small the plan or the industry, any organization can create a world-class retirement plan that benefits both the employer and its employees.”
401(k) Best Practices: A Guidebook for Plan Sponsors also provides plan sponsors with actionable steps they can take to find the right plan advisor for their organization. According to Parrish, national retirement plan practice leader for Cerity Partners, “This discussion is a vital component for creating 21st-century retirement plans. An effective advisor can help a plan sponsor quickly and efficiently implement the best practices outlined in this book.”
This book is divided into two parts. The first half describes the state of retirement in the U.S. today and how it got there, and details the limitations of first-generation plan design. The second half lays out a strategic framework for evaluating 401k plans and then provides a series of best practices to materially improve those plans.
Cerity Partners works with defined contribution, defined benefit and nonqualified deferred compensation plans for public and private companies, higher education, foundations, and endowments.
Veteran financial services industry journalist Brian Anderson joined 401(k) Specialist as Managing Editor in January 2019. He has led editorial content for a variety of well-known properties including Insurance Forums, Life Insurance Selling, National Underwriter Life & Health, and Senior Market Advisor. He has always maintained a focus on providing readers with timely, useful information intended to help them build their business.
