Participant education takes center stage in this interview by 401(K) Specialist with Ty Rogers from Raymond James at a Nuveen Leadership Council event in Chicago. The discussion highlights the importance of educating participants on retirement savings, the impact of starting early, and designing service plans that integrate these educational elements.
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.
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