401(k) Plan Fee Disclosure Services

Figuring out the fees and cost structures of 401(k) plans is already difficult, and many plans make it virtually impossible to decipher who is paying what. Even more troubling, many plan sponsors and employees may be paying for services they don’t require—yet may still be lacking services they need.

Plan sponsors have always had a fiduciary responsibility to understand the value of the services being offered, and to have a process to itemize plan expenses and ensure services being offered are competitive to the 401(k) marketplace.

New Department of Labor regulations now require plan sponsors to both understand and communicate fee information to the employees. Administrators must disclose "plan-level" and "investment-level" information - including associated fees and expenses - to participants no later than August 30, 2012, and the first quarterly statement showing fees incurred July through September must be distributed no later than November 14, 2012.

SES Advisors can help you complete the professional RFP process for 401(k) services to ensure that your plan services and fees are competitive to the marketplace. We also offer other 401(k) advisory services and administration to help you avoid common mistakes that can be costly to your participants, as well as to your company's bottom line.

Ready to Move Forward?

If you would like to receive a one-page fee summary of what your current expenses are for your 401(k) plan at no cost or obligation, please contact us.