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Tag: 403(b)

Don’t Sink Your Retirement Fund

Don’t Sink Your Retirement Fund

Benjamin Franklin stated, “Beware of little expenses; a small leak will sink a great boat.” Yet more than 200 years later, we still have not learned that even small fees add up to large expenses. This consistently happens with defined contribution plan fees, especially in 403(b) plans. Employers don’t seem to understand the fees they are paying, or even worse, the fees their employees are paying in lost investment opportunity. There are a number of ways providers can charge fees,…

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Sometimes, more is less

Sometimes, more is less

There is an economic principle called the economies of scale, which states the larger something becomes, such as a pension plan, the more efficiently it can be administered. This is the principle to which all of the Plans administered by Christian Brothers Services adhere. For example, in the Christian Brothers Employee Retirement Plan (CBERP) the cost of recordkeeping, actuarial, legal, plus other expenses for almost 30,000 participants is not 10 times greater compared to another defined plan of 3,000. The…

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How to manage a benefit plan for your workforce

How to manage a benefit plan for your workforce

“Employers in Catholic organizations and dioceses are faced with a difficult balancing act of wanting to provide a safe and secure retirement benefit for employees without unduly taxing their budgets. Many employers may believe that continuing to offer a defined benefit plan is not feasible though at the same time understand the important foundation a defined benefit plan brings to the retirement security of their employees.” Managing a benefit plan for your workforce can be challenging. There are a host of issues to consider from basic financial considerations to providing…

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