I\u2019ve been in the retirement plan business for 26 years and I\u2019ve been through a few recessions in that time. There was the dot-bomb implosion, added by 9\/11. Let us not forget when our entire financial system was on the verge of collapse in 2008.<\/p>\n
While the market is going through a correction, participants and plan sponsors panic. Panicking is a mistake. When participants panic, they switch equities for fixed income and lock in their losses. Plan sponsors panic and decide they no longer want a 401(k) plan.<\/p>\n
Markets are correct and that\u2019s the nature of things. There are lows and highs, it\u2019s not a consistent lineup. Whatever you do, don\u2019t panic, and don\u2019t let participants panic.<\/p>\n
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