JCPenney in Wauwatosa – Layoffs Begin
J.C. Penney Co. Inc. has informed state of Wisconsin officials that layoffs of more than 520 employees at its massive logistics center in Wauwatosa will begin around June 2.
Source – Milwaukee Business Journal
One of the key concerns is that the plan only has 22 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