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Boise Call Center Lays Off 640 Workers

July 17th, 2018 | Leave a comment.

Source – Boise State Public Radio

What you need to know!

Sykes Enterprises, Inc. 401k Savings Plan & Trust is a defined contribution plan with a profit-sharing component and 401k feature. This plan has a BrightScope Rating of 46.

For the average 401k participant, the 44 point difference between this plan’s BrightScope Rating (46) and the top rated plan (90) could equate to:  22 years of additional work and/or $250,939 in lost savings.
The plans administrator is Charles Pascual and is handled in Tampa, FL.  The recordkeeper is the Principal Financial Group.
One of the key concerns is that the plan only has 29 investment options which is common for most 401k type plans.

Most 401k, Profit Sharing or ESOP plans do not have active management so there really is no one guiding the plan investments. What this means is that like most traditional investment companies, in the event of an economic downturn there is no method for automatically moving your portfolio to a lower risk profile.

With the WealthSentry system we participate in, accounts are automatically re-balanced to lower risk portfolios in the event of a severe economic downturn. Learn more in our guide, 6 Critical Steps You Must Take Now.

For an in-depth analysis of your options feel free to make an appointment, read one of our guides or participate in one of our workshops.

Wishing you the best.

Doug Reed, CRPC, AAMS

 

 

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