AI is here for 401(k) review

I’ve been long in this business to remember no participant websites, so I’m amazed by technological breakthroughs. Artificial Intelligence (AI) tools

BenchMine is billed as the first-ever AI 401(k) comparative analysis tool that’s free and open to the public.

Plan advisors can now search through more than 56,000 plans with at least $1 million in total assets nationwide to see how particular company 401(k) plans stack up in their area, against a competitor, or within a specific industry. The tool will allow them to show plan sponsors where the plan excels and/or falls short in terms of average fees, contributions, and performance. The tool draws on Department of Labor 401(k) data from companies that filed a Form 5500 Schedule H for 2021.

Story Page
%d bloggers like this: