The scrutiny of fees within retirement plans has reached a fever pitch and shows no signs of abating. The endless stream of lawsuits accusing plan fiduciaries and service providers of charging excessive fees, of all types, has fostered a heighted sense of anxiety amongst plan sponsors and advisors. Understanding plan expenses in relation to services … Continue reading Fees, Funds and Fiduciaries – Cheaper is Not Always Better
The payment of expenses by an ERISA plan (401(k), defined benefit plan, money purchase plan, etc.) out of plan assets is subject to ERISA’s fiduciary rules. The “exclusive benefit rule” requires a plan’s assets be used exclusively for providing benefits. ERISA also imposes upon fiduciaries the duty to defray reasonable expenses of plan administration. General … Continue reading Allowable Plan Expenses: Can the Plan Pay?