Checklist

Fiduciary Checklist    (pdf)
Download the checklist to see how well you can document the fulfillment of your fiduciary obligations.

Investment Review Checklist   (pdf)
This checklist is designed to help guide the investment review process and ensure your Investment Policy Statement is used effectively.

Articles

DOL Fee Study
Study of 401k plan fees and expenses, Pension and Welfare Benefit Administration

Horizon Insights Archives

2006

            September:

Paul Powell speaks at Plans By Design :
On June 28th 2006, Paul Powell joined noted ERISA attorney, Fred Reish, and others on a panel discussion concerning the difficulties plan sponsors have in vendor search and selection.

Department of Labor addresses 401(k) plan fee data:
The Department of Labor (DOL) is in the midst of a three-part project on 401(k) plan fees. Part 1 is the recently proposed revisions­ to Form 5500, requiring sponsors to report detailed information about direct and, critically, indirect fees. Part 2—expected this fall—is a revision of the service provider regulation to require that providers give sponsors detailed fee information. Part 3—projected for year-end—is a revision of the ERISA 404(c) rules to require sponsors to provide participants information about direct and indirect fees.

Behind this project is a notion that there is a problem with 401(k) plan fees—that they are, in some cases, unreasonable and, in other cases, create a conflict of interest resulting in bad fiduciary decisions. Of particular concern are indirect fees—plan-related fees paid by one provider to another. The first step toward solving this problem is, as DoL views it, to create more "fee transparency"—to develop adequate information about what fees actually are being paid.

Source: Plansponsor.com