Comprehensive analysis of what you need to know, September 4, 2002

Reviewer: Harold McFarland (see more about me) from Florida

"Smart Choices: Selecting and Administering a Safe 401(K) Plan" is one of the best books on the market today about 401(K) plans. It focuses extensively on the viewpoint of the company that wants to establish a 401(K) plan. How do you establish the plan? What are the fiduciary responsibilities of the plan administrator? What are the consequences of various choices? How should you compare plans to determine the one that best fits your needs? I've read other books on 401(K) plans and they generally seem to focus on just a few of the subjects treated in this book. Many focus on selecting a good plan, but often don't provide the information on how to determine an appropriate ratio of growth, income, risk and other factors. Others focus on the design and implementation of the plan without providing any guidance on how to benchmark a good plan. This book, on the other hand, is very comprehensive and yet is written in a manner that the average reader can understand and apply the concepts. If you are responsible for selecting a company plan, selecting the funds to be in the plan, design of the plan, or any other aspect of a 401(K) plan then you owe it to yourself to read this book. "Smart Choices" is a complete reference to understanding a 401(K) plan from overall concepts to the details of whether it is performing as it should be.