David Wray Quotations

When times are tough, your matching contributions are going to go down. It's a factor of profitability.

The plan will be designed to ensure that none of these (and other) limits are violated.

If they choose XYZ Boiler Room, the employer is on the hook,

We took a poll of our members. Seventeen percent of our members said they intended to implement the Roth 401(k) in 2006. Eighty-three percent were going to wait and see or were not going to do it at all.

Have a compelling argument that speaks to the bottom line.

There are studies that show participants in a 401(k) plans are less likely to leave the company and are better workers.

Linda Franklin will be missed. She was an extraordinary example of living with joy and gratitude no matter what came her way.

Just because someone passes a law in Washington, D.C., to provide an additional voluntary opportunity in a benefit program doesn't mean a company has to immediately implement it.

Most Americans do not enter the work financially prepared to analyze a broad array of choices and make the best possible asset allocation. Companies have tried hard to teach them. But the bottom line is that if more people are to participate, the investment process has to be simpler.

You can borrow up to half the account balance or $50,000, whichever is less. But if you borrow, you have to repay, typically through a payroll deduction.

This will be a common feature of plans over the next few years.

What greater hardship can you have as a reason to withdraw your own money?

We expect over 30 bills by the time this is over. The bills are going to pour in.

Employers are looking ahead. They want to find out what people want before they walk in the door.

Profit-sharing by its nature is uncertain. Sometimes you have a good year. Sometimes you have a bad year,

You should be persistent in asking questions until you're fully satisfied you understand what's happening.

This money is going to determine how you live in the long run. So if you can deal with short-term emergencies out of short-term resources, that's a better planning approach.

They're going to prioritize where they're going to send checks. The owner or manager is using the cash funds until the miraculous rescue occurs.

It is wonderful to see companies who have the commitment that these companies show. They are really trying to do the right thing with their workforce. They are good examples for the rest of American business.

Everyone has to be treated the same, ... eligibility is not a big expense.

Small companies are always right on the edge. (Setting up a retirement plan) distracts the management from their single-minded purpose of getting business in the door. You've got to make it easy for those people.

The family is of course heartbroken by their loss ... but they are amazed and grateful at the support they have received.

In her last will, she said no one can change anything. It is to stand as provisions of the trust indicate.

I hear concerns about the additional administrative and compliance resources necessary to run the program right and the difficulty that many feel there will be in educating the rank and file participants. It's a challenging issue to educate employees about investment concepts, and now it's important to teach them about tax planning.

How can we tweak our plan to attract the kind of employees we want and need?

You can typically get a loan in a few days and the companies are pretty open to this, they don't require you to submit a lot of paperwork to get a loan.