Smart401k Blog

As part of my role with Smart401k, I help small business owners evaluate and look for ways to improve the quality of their retirement plan.  I try to ensure that they are fulfilling their fiduciary responsibility and meeting the requirements of their Investment Policy Statement.   In the future I will cover several topics in this area.  Today, I am going to focus on how I help employers build and/or improve their fund lineup.

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In the headlines

A look at some of the market movers over the past week:

• GlaxoSmithKline agreed to buy Stiefel Labs for $3.6 billion
• Pepsico offered $6 billion to buy out its two largest bottlers
• American Sterling Bank joined this year’s tally of failed banks
• The government will make additional funds available to Chrysler and General Motors

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Lately, short selling has been a hot topic for investors and the media.  As with most hot topics, there are two opposing views.   Some industry experts want to point the blame for a significant portion of the market woes we experienced in 2008 and 2009 on short sellers, while others say short sellers play an important role on stabilizing the market.     

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In the headlines

A look at some of the market movers over the past week:

• General Motors bankruptcy discussions continued
• eBay announced the acquisition of Korean competitor Gmarket for $1.2 billion and its intention to publicly offer shares of its subsidiary Skype
• Express Scripts announced the acquisition of WellPoint’s in-house pharmacy benefit management business
• Goldman Sachs announced first quarter profit that topped analysts estimates and revealed plans to raise $5 billion to pay back the US government

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I read as much as I possibly can and do my best to stay abreast of what’s going on in the industry. Recently, two press releases have caught my attention. The first was from Charles Schwab and focused on a survey of young adults and the second was from Rep. Robert Andrews of the First Congressional District of New Jersey, who is the head of the House Subcommittee on Health, Employment Labor and Pensions. What caught my attention was that both focused on the need and desire for advice. Specifically, advice for employees who are investing in an employer sponsored retirement plan such as a 401(k) or the federal government’s Thrift Savings Plan.

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In the headlines

A look at some of the market movers over the past week:

• HSBC further bolstered its capital base with a $19 billion rights offering
• Budget analysts revised up the estimate of what the TARP program would ultimately cost taxpayers
• The Treasury expanded potential participation in its PPIP program after receiving criticism
• Goldman Sachs’ Lloyd Blankfein spoke out in favor of financial executive pay changes

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Changes occur in 401(k) plans more than you might think.  When a change happens it is supposed to reflect the best interest of the participants in the plan.  There are several different types of changes that can be made, including: new share classes, elimination or addition of funds or switching to institutional funds.  If a change is planned, your employer will send you a notification well in advance with the information you’ll need to know regarding both what the change is and when it will occur.  Below, you’ll find a brief description of the changes mentioned above.

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In the headlines

A look at some of the market movers over the past week:

• Pending home sales posted moderate gains
• The Financial Accounting Standards Board eased rules on mark-to-market accounting
• The House and Senate separately approved the President’s budget for 2010
• Unemployment continued to climb, hitting 8.5%

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