Combating the Epidemic of 401(k) Accounts Without a Beneficiary
As auto enrollment has increased in popularity, the important but not urgent action to pick a beneficiary is very often not completed. The result of this problem is a tragic waste of time and resources in HR departments and even worse, wrecked legacies leaving devastated heirs. As auto enrollment gains in popularity, it’s not uncommon for large 401(k) plans to have over 78% of their accounts without a beneficiary. Join Randy and Cyndi for a discussion of the problem and some solutions.