Protecting your interests.
Having a handle on your plan costs and being sure they are reasonable has never been more important.
- Recent legislation by the Department of Labor requires that plan sponsors make sure fees are disclosed fully to participants.
- In addition to disclosing the fees, you are responsible for making sure the fees your employees are paying are reasonable.
- Do you know what you are paying and to whom?
- Are you sure you are not paying hidden investment and administration costs?
- How does your plan compare to industry averages on plan expenses?
- Are you sure your fees are “reasonable” as determined by ERISA?
At Deschutes, we have been practicing this type of cost analysis and disclosure for years. Full disclosure to your participants and an annual plan review compared to national averages will help you keep in compliance with the regulations.
If you cannot answer these questions call Deschutes today to schedule a Plan Check Up, our comprehensive 401(k) plan benchmarking analysis.