I love bagels and one of the greatest debates out there is what makes them great. People swear up and down that it’s the water from New York. They believe it so much so that there are businesses who advertise that they either bake bagel using New York water or have water filtered like New York. I don’t know, I always think it has something to do with how they are baked. A great bagel is boiled then put in the oven. Some places cheap out in this process and only use a steamer before they bake.
Regardless, there is very little debate on what is the reason for what makes a good retirement plan. When push comes to shove, it centers on a vigilant retirement plan sponsor. A well-run retirement plan doesn’t happen by accident, it’s the retirement plan sponsor that puts it all into place. Sure, there are great retirement plan providers out there, but who hires them? There is no such thing as luck when it comes to good plans, retirement plan sponsors make their own luck by taking care of their job in setting up the plan and maintaining it.
So while the debate remains as to why New York bagels are so great, there is no debate on what is the reason why retirement plans can be great. It rests on the retirement plan sponsor.