Implement/Improve Online and Mobile Account Management
How old is the 401(k) plan? No, not your specifically, but in general. You might be surprised to hear that they were implemented in the Revenue Act of 1978. Back then, they couldn’t have known how online and mobile account management systems would skyrocket.
In 2021, we know better, and your employer should too. While you could access your accounts from a smartphone or your commuter any time, such as savings and checking accounts, there’s a different story when it comes to 401(k)s.
Your employer should be in charge of modernizing your account management. In a lot of cases, many companies don’t prioritize this. It may be a small change, but it’ll benefit both you and your company in the long run, so don’t be afraid to bring this up to your employer.