Retirement Plan Fees: Are You Being Overcharged?
August 9, 2023
There are nearly two dozen fees that can be charged to retirement savings plan sponsors and participants. Your organization is likely being overcharged for its 401(k) or 403(b) plan — and those costs can be significant.
Under the Employee Retirement Income Security Act (ERISA), employers are responsible for knowing the full extent of all expenses borne by their retirement plans and determining if they are reasonable. Conducting a benchmarking analysis of your plan’s fees can help you understand these expenses and explore methods for reducing costs.