Very few employers pay 100% of the cost of their 401k plans. Most often, plan services, including the Advisor, are covered by asset-based fees deducted from participant accounts. There is not a thing wrong with this approach, unless the participants are not getting what they pay for.
Ensure your plan participants are receiving the plan consulting, retirement education and advice they deserve. If you have a 401k plan and have not reviewed your providers, benchmarked your fees, updated your funds, or provided retirement education in the last 12 months, it is time for a 401k check-up.
Remember, a plan sponsor is obligated to act in the best interest of the plan participants.
At Six8 Advisors, we not only focus on retirement plans, we focus on small to mid-sized plans just like yours. Ask us our about our one-time 401k Check-up or ongoing Plan Advisory Services.
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