Meredith Corp to lay off 200 to 300
March 20th, 2018 | Leave a comment.
Magazine publisher Meredith Corp. is set to lay off between 200 and 300 employees following its merger with Time Inc., according to The Wall Street Journal.
The layoffs are thought to be a result of the elimination of duplicative corporate staffing and are expected to impact Time Inc. employees.
Source – The Hill
Meredith Savings and Investment Plan is a defined contribution plan with a profit-sharing component, 401k feature, and ESOP component. This plan has a BrightScope Rating of 77.
For the average 401k participant, the 14 point difference between this plan’s BrightScope Rating (77) and the top rated plan (91) could equate to: 10 years additional years of work and/or $123,524 in lost savings.
The administration and record keeper is Principal Financial. One of the key concerns is also that the plan only has 27 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