Cutting Costs / are there too many hands in your 401(k)?
Annual Fees have direct and detrimental impact on Investment Returns. The more the Plan pays, the fewer dollars your employees save for their retirement.
The new Department of Labor Legislation mandates that you have a fiduciary duty to ensure fees are reasonable and not excessive. It also stipulates that you must clearly communicate these fees to your participants in a "Format that enables workers to meaningfully compare..."
Our free Cost Comparison lists all the fees and expenses which are being deducted from your annual returns and compares them against alternatives. This saves you time and risk in meeting the requirements of the new legislation.
These comparisons regularly expose expenses and fees that were previously undisclosed. If these fees are not prudent when compared to other plans, you may be held personally accountable.
If costs appear to be excessive, you may be at risk.
Should our Cost Comparison show your current plan to be more cost efficient than alternatives, you may retain this document to demonstrate proper fiduciary oversight. You have met a major part of your responsibilities.
The image below shows a portion of Global’s Free Cost Comparison:
As a 401(k) Plan Sponsor, complying with the new Department of Labor (DoL) regulations is not difficult but it may require urgent attention. You have a fiduciary duty with responsibilities enforced by the DoL. Find out more... FREE Legal 401(k) Risk AnalysisOur free legal risk analysis reviews your exposure to fiduciary liability and informs you of the corrective action required. This analysis is good practice and demonstrates proper fiduciary oversight. | Annual Fees have direct impact on Investment Returns. The more the Plan pays, the less employees save for their retirement. You have a fiduciary duty to ensure fees are reasonable and not excessive. Find out more... FREE 401(k) Cost ComparisonOur FREE 401(k) Cost Comparison lists all your current Plan fees and compares them with two alternatives. This comparison can be used to demonstrate proper fiduciary oversight. |
