Assessing Retirement Plan Value - 1b

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0.67%
1.27%
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2%
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%
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1.68%
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7%
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1.2 %1.61%
1.68%
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1.2 %27%
NUMBER
>MORE THAN A
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1.27%
0.21%
1.68%
1.27%
0.21%
0.47%
1.68%
1.68% 0.68%
0.87%
1.68%
1.27%
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07
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1.68% 0.83%
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When we say plan fees are “More than a Number”
What Do We Mean?
WHAT DOES IT MEAN?
UNDERSTANDING
RETIREMENT PLAN COSTS
REVIEWING PLAN SERVICES
NAVIGATING
COST CONSIDERATIONS
EVALUATING
REASONABLENESS
ADDRESSING
PARTICIPANT QUESTIONS
GLOSSARY OF TERMS
As part of a plan sponsor’s ongoing fiduciary responsibility,
you must understand the services received to assess whether
the fees being paid are reasonable for the retirement plan.
Service providers are required to disclose the fees they are
receiving in conjunction with providing services to a plan.
However, there is not one consistent fee structure or
disclosure format to follow.
It’s up to the plan fiduciary to understand all the fee
components – both direct and indirect – for the plan and
decide how the fees will be paid.
Use this site to learn practical tips for understanding
and evaluating plan fees.
• Retirement Plan Costs
• Reviewing Plan Services
• Service & Payment Considerations
• Evaluating Reasonableness
• Addressing Participant Questions
There is more attention these days on the costs of
providing a retirement plan. So how does a plan sponsor
evaluate whether what they are paying is reasonable?
It’s more than a number.
WHAT IS BEING RECEIVED IN RETURN?
Understand the breadth and depth of services
being received for the fees paid.
HAVE YOU EVALUATED YOUR RETIREMENT PLAN LATELY?
• Consider the types of services available – including
personalized or unique services; plan administrative
services; consulting services; participant education;
plan documents, compliance & government filing;
plan reporting; and trust & custodial services
1 Review the objective(s) set for the retirement plan.
• Know what you get with those services - the range,
features and quality of the services received
2 Consider the value and impact of the services received based
on what’s important to the plan and plan participants.
• Understand that fees can vary greatly depending on
the objective of the retirement plan and the extent of
services received
3 Answer these three questions to help you evaluate if what
the plan receives for the fees paid is helping put it on track
to meet the objective(s).
WHAT IS
BEING PAID?
WHAT IS
BEING RECEIVED
IN RETURN?
WHAT IS
THE ASSESSED
VALUE?
The better informed you are about what services are
included and what fees are charged for those services,
the better equipped you will be to make decisions that
meet the retirement plan’s objective(s).
As with any purchase you may make, you must first consider your
needs and wants. Then, you weigh the features and qualities of
the item or service against what you are willing to spend. It’s the
same for a retirement plan -- though with ERISA you have the
added requirement of acting in the best interests of the plan
and its participants:
0.27%
RETIREMENT PLAN VALUE
PRINTABLE PDF
TOOLS & RESOURCES
> BACK TO HOME
DIRECT & INDIRECT
COMPENSATION
MORE THAN A NUMBER • WHAT DOES IT MEAN | 1

Assessing Retirement Plan Value

Table of Contents for the Digital Edition of Assessing Retirement Plan Value

Assessing Retirement Plan Value - Cover
Assessing Retirement Plan Value - 1
Assessing Retirement Plan Value - 1a
Assessing Retirement Plan Value - 1b
Assessing Retirement Plan Value - 1c
Assessing Retirement Plan Value - 2
Assessing Retirement Plan Value - 2a
Assessing Retirement Plan Value - 2b
Assessing Retirement Plan Value - 2c
Assessing Retirement Plan Value - 2d
Assessing Retirement Plan Value - 2e
Assessing Retirement Plan Value - 3
Assessing Retirement Plan Value - 4
Assessing Retirement Plan Value - 5
Assessing Retirement Plan Value - 6
Assessing Retirement Plan Value - 7
Assessing Retirement Plan Value - 8
Assessing Retirement Plan Value - 8a
Assessing Retirement Plan Value - 8b
Assessing Retirement Plan Value - 9
Assessing Retirement Plan Value - 10
Assessing Retirement Plan Value - 11
Assessing Retirement Plan Value - 12
Assessing Retirement Plan Value - 13
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