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Getting the Most Value for Your Company’s Employee Retirement Plan Through Fee Analysis


Getting the Most Value for Your Company’s Employee Retirement Plan Through Fee Analysis
Getting the Most Value for Your Company’s Employee Retirement Plan Through Fee Analysis


Getting the Most Value for Your Company’s Employee Retirement Plan Through Fee Analysis


As a fiduciary for your company’s employee retirement plan, it is your duty to ensure that you only pay reasonable expenses to maintain the plan. Accordingly, it is imperative that you conduct a fee analysis and eliminate any expenses that are not necessary to maintain the plan.


Fee Analysis is the process of executing a full-scale analysis of your retirement plan fees. These fees generally include administrative costs, mutual fund expenses, and other miscellaneous fees. To fulfill your duty to only pay reasonable plan expenses, you must understand the fee structure of your plan and how it will affect participants. This way, you, as a fiduciary, can maximize the plan return and mitigate losses.

During Fee Analysis, your plan product is set as the benchmark and then measured against similar ones offered by other companies to see how it compares against them in cost. There are no regulations in the industry that command service providers to offer competitive rates for these fees. That is why it is so necessary to have an independent advisor perform this analysis to ensure you are getting the best deal possible on your specific type of plan. That way, service providers are incentivized to bid up the highest price possible on your company.


If you are a fiduciary for your company’s retirement plan and are unsure what to look for during fee analysis, I can help. My specialty is reviewing employee retirement plans and ensuring that fiduciaries are only paying necessary plan expenses. I also specialize in adding 99% value to these retirement plans. Contact me today if you’re ready to get the most value from your company’s retirement plan and eliminate any unnecessary plan expenses.

 

If you are a fiduciary for your company’s employee retirement plan and are concerned about your current investment options, I can help. My specialty is reviewing and adding 99% value to employee retirement plans. Contact me today if you’re ready to get the most value from your company’s retirement plan and protect yourself from personal liability as a fiduciary.


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