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Lockheed Martin Case Puts 401(k) Plans on Trial
MPR News Link to more items from this source
Dec. 15, 2014
"Mike Alfred, CEO of Brightscope ... says 401(k) plans have become something of an afterthought at many companies ... probably because they do nothing to boost the company's bottom line. In the worst cases, funds can be chosen by mid-level employees who have little experience selecting investments and are often no match for a fund company's salespeople. Alfred says this is especially prevalent in the small plan market, where people tend to buy the products that are put in front of them. 'They don't oftentimes spend a lot of time analyzing alternatives,' he says. 'If they like the person that presented the product and the sales pitch is good, a lot of times that's the product that gets purchased.' "

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