This is an interview conducted by 401(K) Specialist with Ty Rogers from Raymond James at a Nuveen Leadership Council event in Chicago. The discussion centers on participant education in retirement plans, particularly focusing on the importance of educating participants on saving for retirement, the impact of early savings, and the design of service plans that incorporate these educational aspects.
Ty Rogers explains that his group focuses on plans under $50 million and strives to meet with participants individually to guide them on retirement planning. He emphasizes the importance of starting early and measures success by the deferral amounts participants choose. Additionally, Rogers shares his views on 401(k) loans, expressing concerns that they may lead to poor financial decisions, though he acknowledges they might be beneficial in specific situations like first-time home purchases. The interview concludes with Rogers discussing the importance of educating participants about the potential downsides of taking loans from their retirement savings.
For more detailed information or to watch the video, you can find it here.
With more than 20 years serving financial markets, John Sullivan is the former editor-in-chief of Investment Advisor magazine and retirement editor of ThinkAdvisor.com. Sullivan is also the former editor of Boomer Market Advisor and Bank Advisor magazines, and has a background in the insurance and investment industries in addition to his journalism roots.
