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Navigating ERISA and Managing Risks in Retirement Planning with Eric Dyson 103o51
23/07/2024
23/07/2024
About Eric Dyson: Eric Dyson is a United States Naval Academy graduate and former...
About Eric Dyson: Eric Dyson is a United States Naval Academy graduate and former nuclear-trained submarine officer with a decade of service. With over 30 years in the financial services industry, he specializes as an ERISA advisor, currently serving as the Executive Director of RFP 401k Advisor. Eric offers consulting expertise in conducting ERISA Advisor RFPs, expert witness services, ERISA fiduciary training, and conducting fiduciary best practices audits. He is also a sought-after keynote speaker on fiduciary best practices, having addressed audiences hosted by leading investment providers nationwide.
In this episode, Ryan and Eric Dyson discuss:
The importance and various aspects of planning for retirement
ERISA and its significance
Strategies to mitigate risks associated with retirement plans
The role and importance of financial advisors in managing retirement plans
Key Takeaways:
It's essential for clients to understand that having a 401k or similar retirement does not constitute a comprehensive retirement plan, and they need to ensure their employer-sponsored plan integrates effectively with their overall financial strategy.
Fiduciary training for plan committees is often inadequate, typically squeezed into annual or quarterly meetings, and there's a significant need for more comprehensive and frequent training to ensure fiduciaries are properly equipped to act in the best interests of employees.
Employers should be aware of their fiduciary duties under ERISA, including the duty of loyalty, prudence, adherence to plan documents, and diversification to avoid large losses, and they should seek expert advice if they lack the necessary expertise.
Budgeting is fundamental to financial planning, and having a written budget is crucial for effective debt management and retirement planning, ensuring individuals have a clear understanding of their monthly needs and financial goals.
"Budgeting is the foundation to making this all work." — Eric Dyson
Connect with Eric Dyson:
Website: https://90northllc.com
Email: [email protected]
LinkedIn: https://www.linkedin.com/in/401kguy/
Get a free copy of Shawn’s book “The Priority of Retirement” here- https://www.retirewisepro.com/the-priority-of-retirement
Shawn:
Website- https://www.retirewisepro.com/
YouTube- https://www.youtube.com/channel/UCiIMGdosN-snkV5gFt7FRSg
LinkedIn- https://www.linkedin.com/in/shawn-maloney-retire-wise
Instagram- https://www.instagram.com/retirewise_llc/
Facebook- https://www.facebook.com/ShawnMaloney.RetirementPlanning/
Audio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it.
Eric Dyson is not a client, nor should his appearance in this ment be construed as an endorsement of Shawn Maloney or Retire Wise LLC. 90 North Consulting is not d with Retire Wise LLC. or AEWM.
The information and opinions contained are provided by third parties and have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed. They are given for informational purposes only and are not a solicitation to buy or sell any of the products mentioned. The information is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the needs of an individual's situation.