According to a news release from ICC Plan Solutions, this enhancement addresses three primary issues:
- participants’ questions, concerns or doubts about mutual funds in general
- questions or concerns about the specific mutual funds they own
- reassurance that their plan is taking these scandals seriously and is monitoring the plan’s investment menu and provider in light of developments.
At the same time, with this new feature, plan providers and sponsors will provide participants with the confidence that they can continue to save money in the plan and pursue long-term retirement goals, ICC said. It also explains and helps to emphasize the value of diversifying assets.