Indiana’s largest beer distributor laying off 100 workers
INDIANAPOLIS — Indiana’s largest beer distributor is laying off 100 workers after losing a contract with a major supplier.
Monarch Beverage Co. expects the job cuts to occur by Sept. 1, when the Indianapolis wholesaler will pull out of the wine business by closing its $67 million-a-year wine distribution business.
Source – TheRepublic.com
Monarch Beverage Retirement Readiness Plan is a defined contribution plan with a profit-sharing component and 401k feature. This plan has a BrightScope Rating of 71.
One of the key concerns is that the plan only has 34 investment options to choose from which is commons for most 401k type plans.
Most 401k, Profit Sharing or ESOP plans do not have active management so there is really no one specifically guiding the plan investments. What this means is that like most traditional investment companies, in the event of a severe downturn the investment advisors have no method for moving to a lower risk profile automatically.
With the WealthSentry system we participate in, retiree’s accounts are automatically re-balanced to lower risk portfolios in the event of a potential severe 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