This post is part of Smart401k CEO Scott Hollsopple’s contribution to the U.S. News & World Report Smarter Investor blog series. To view the original article, click here. Original post date October 22, 2013.
It's that time of the year again – benefits enrollment season. Cue the theme from "Jaws"!
Whether you're an old pro or new to the world of employee benefits, the enrollment process can be confusing and intimidating. But it is really important to review everything your employer is offering this year, especially since your health care plan is likely to see some changes as a result of the Patient Protection and Affordable Care Act.
Health care isn't the only place where you may see significant changes to your benefits. You could also see some new investment options in your 401(k) plan. Thanks to recent legislation mandating more transparency in the retirement planning industry, now you and your employer have access to a lot more information about the fees you're paying. This may have led your employer to join the many plan sponsors that are reassessing what they're paying for in the company 401(k) plan.