fees

Unraveling Plan Fees
Team SummitEmployer Resource Center, Fiduciary GovernanceComments are off for this post
You already know that a fiduciary must act solely in the interest of the plan participants, their beneficiaries and alternate payees to ensure that only reasonable expenses are being paid. The big question is: how do you know if plan fees contained within 408(b)(2) disclosures are reasonable? Benchmarking your retirement plan fees is a vital  Read More →
Summer Homework for Fiduciaries
Team SummitEmployer Resource Center, Fiduciary GovernanceComments are off for this post
As you bask in the glory of summer over the next couple of months, don’t forget the three Fs that define this cherished season — fun, fireworks, and fiduciary! While you’re enjoying the fruits of summer, don’t forget your fiduciary responsibilities! Ask yourself the following questions to make sure you are on top of your  Read More →
Fee Payment Methods in 401(k) Plans: Know Your Options
Team SummitEmployer Resource Center, Fiduciary Governance, Plan Operations & AdminComments are off for this post
A plan sponsor (i.e. employer) can elect to pay or allocate plan fees in a number of different ways, and it is important to understand all available options, as this is a fiduciary decision. In fact, the DOL observed in Field Assistance Bulletin (FAB) 2003-03 that plan sponsors and fiduciaries have considerable discretion in determining,  Read More →

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