Oversight of investment fees remains one of the most important duties retirement plan sponsors must perform in order to fulfill their fiduciary duties. This responsibility is spelled out in ERISA law. “Reasonable compensation” to service providers is permitted, as long as the work they perform is done with the best…
Posts Tagged: excessive fees
How Does Your Retirement Plan Compare? Why Benchmarking is Important.
by Kathy Duffy, on 01.15.2016benchmark (noun) \bench-märk\ Something that serves as a standard by which others may be measured or judged. Benchmarking is common in the financial industry as a means of gauging progress or measuring success. Investment performance is often benchmarked against a financial market index, such as the S&P 500. The skill…
401(k) 2015 Year in Review
by Kathy Duffy, on 01.06.2016Retirement plan rule changes often don’t make waves beyond our corner of the business world, but in 2015 they made national headlines. The problem of excessive fees for retirement plan investments and advice garnered more attention last year, not only with the pending rule changes around fiduciary responsibilities but also…