Navigating ERISA And Managing Risks In Retirement Planning With Eric Dyson

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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 retirementERISA and its significanceStrategies to mitigate risks associated with retirement plansThe role and importance of financial advisors in managing retirement plansKey Takeaways It s essential for clients to understand that having a 401k or similar retirement account 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 nbsp Budgeting is the foundation to making this all work Eric Dyson Connect with Eric Dyson nbsp Website https 90northllc comEmail edyson 90northllc comLinkedIn 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-retirementContact Shawn Website- https www retirewisepro com YouTube- https www youtube com channel UCiIMGdosN-snkV5gFt7FRSgLinkedIn- https www linkedin com in shawn-maloney-retire-wiseInstagram- https www instagram com retirewise llc Facebook- https www facebook com ShawnMaloney RetirementPlanning