BCG Meets With Government Officials to Better the 401(k) Private Retirement System

Posted on November 5, 2014

Cherry Hill, NJ–November 4, 2014–Benefit Consultants Group (BCG) is a founding member of The Council of Independent 401(k) Recordkeepers (CIKR). CIKR is a national organization of 401(k) plan service providers.  Collectively, the members of CIKR provide services to approximately 68,000 plans covering 2.8 million participants and holding in excess of $120 billion in assets.

Recently, CIKR members met with various members of Congress and their staffs, as well as representatives of The Department of Labor and Treasury Department. Members of Congress and government officials sought CIKR’s input on various issues facing the 401(k) industry today.

Steven Sokolic, BCG Executive Vice President and General Counsel, represented BCG at the meeting. “I was pleasantly surprised at the willingness of government officials to listen to and act on our concerns,” said Steve. “Everyone seemed genuinely interested in taking steps to strengthen the 401(k) system and encourage more people to save more for retirement. As one CIKR member put it, everyone should be encouraged to participate in a program that allows them to ‘retire with dignity.’ ”

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