Dental 401(k) Plans: Keep Your Best People and Lower Costs, Risk
hosted byDentaltown, L.L.CDental 401(k) Plans: Keep Your Best People and Lower Costs, Risk is organized by Dentaltown, L.L.C.
Released: 8/25/2021
Expiration Date: 8/25/2024
Overview:
This course details the ways in which dental practice owners can implement and manage a best-of-breed 401(k) plan. This includes methods to achieve lower costs, better returns and how to reduce personal legal risk for the dental owner/operator. Fees and returns are the primary way in which many business owners measure the worthiness of a 401(k) plan. Often, however, trust in the recommendations of a family member, close friend or longtime professional relationship impacts their choice in 401(k) provider — for better or worse. While fees and returns are important, there are many additional issues related to 401(k) management of which small business owners, including dentists, are generally unaware. To run a truly successful 401(k) plan it is important to consider a number of lesser-known risk factors that can leave dentists out of pocket and liable to lawsuits.
Educational Objectives:
Upon completion of this course, participants should be able to achieve the following:
• Understand the impact of high fees, what fees are reasonable and the effect of compounding
• Recognize the advantages and disadvantages of different investment vehicles
• Understand the meaning of the term “fiduciary” and recognize who acts as the fiduciary on a 401(k) plan
• Understand the risks that practice owners face when acting as the fiduciary on their own 401(k) plan