Will 401(k) Benchmarks Put You Out of Business?

Will 401(k) Benchmarks Put You Out of Business?

Plan sponsors can now discover whether they are paying too much for their retirement plans. Advisors may have to drop their fees or lose the client.

The managers of a company’s multiple retirement plans were not pleased. As Ed Lynch, chief executive and founder of the consulting firm Fiduciary Plan Governance tells the story, the plan sponsor had filed a request for proposals from financial advisors for managing a defined benefit pension master trust with about $95 million in assets, plus five 401(k) plans totaling another $35 million. They had been paying the incumbent advisor 0.37 percent in fees to manage the retirement mo

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