Plan Review

401(k) Plan Review

 Are your 401(k) administrative fees reasonable?  

Are the investment options offered in the plan performing adequately?

If you can't answer both of the above questions with confidence, it's time to have your 401(k) plan reviewed.  Even if you have no intention of switching service providers, conducting periodic fee and performance reviews is a good idea.

Consider the following excerpt from the Department of Labor:

"Plan fees and expenses are important considerations for all types of retirement plans. As a plan fiduciary, you have an obligation under ERISA to prudently select and monitor plan investments, investment options made available to the plan’s participants and beneficiaries, and the persons providing services to your plan. Understanding and evaluating plan fees and expenses associated with plan investments, investment options, and services are an important part of a fiduciary’s responsibility. This responsibility is ongoing. After careful evaluation during the initial selection, you will want to monitor plan fees and expenses to determine whether they continue to be reasonable in light of the services provided."

(Source: Department of Labor - Understanding Retirement Fees and Expenses)

Our 401(k) review consists of benchmarking your fees and investment performance against other low-cost providers in the industry.  This will give you a good sense of how well your plan stacks up against other plans of similar size.