Fiduciaries are responsible to ensure that services provided to their retirement plans are necessary and their costs reasonable.
What is included in a defined contribution fee review?
- Review of direct and indirect fees charged to an employer plan sponsor, employee participants and trust assets in connection with a 401(k) or 403(b) plan
- Compehensive fee analysis, including investment manager fees, administrative fees, transaction fees, soft-dollar arrangements, revenue sharing, 12b-1 fees, float cost and sub-transfer agent fees
- Benchmarking of administrative and investment fees for comparable plans and comparison of services
Fee benchmarking and vendor search help improve your overall plan management. While compliance, investment management and financial management are the focal points of many fee reviews, plan design and administration are equally critical considerations, and are essential components of any vendor search.