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401(k) Plan Fees?

How do I find information relating to fees charged by other providers for similar 401(k) plans (in both size and moneys) as Santa Rosa Hardware Co. Inc.'s plan fees?

May 09, 2012 by NENIA from Santa Rosa, CA in  |  Flag
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4 votes

Nenia -- this link may be helpful: http://www.brightscope.com/search-results/?q=hardware It shows 920 hardware stores on the platform all over the country. Hope this helps.

Comment   |  Flag   |  May 09, 2012 from Ridgefield, CT

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3 votes

Hello Nenia - I have an excellent benchmarking study that we have used to benchmark our own fee schedule and our clients' plans. It was prepared by a national consulting firm, and I would be happy to share with you. Email me at jdowd@northcapital.com and I will send it to you in PDF format.

Comment   |  Flag   |  May 10, 2012 from San Francisco, CA

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George Cones, JD Level 20

Nenia,

There is a good resource at the following link: http://www.idc.org/pdf/rpt_09_dc_401k_fee_study.pdf

This report looks at fees in a variety of ways.

Comment   |  Flag   |  May 09, 2012 from Wilmington, DE

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Both of the above are excellent ideas; you also may consider contacting an independent consultant in your area. If your plan hasn't been benchmarked in the last three years, that would be a good step to take. A good benchmarking study will benchmark your fees, investments, and services against plans of your size (# participants and assets) in various structures (bundled and unbundled). Ideally, it would reveal with these plans are actually paying vs. a forward looking estimate. Hope this helps.

Comment   |  Flag   |  May 10, 2012 from Moorpark, CA

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The US Dept of Labor has decided that by 8/30/12 that all plan sponsors will be required to disclose fees. As most participants have no idea what their costs are, this should make for interesting times in the retirement plan industry.

Comment   |  Flag   |  Jun 08, 2012 from Denver, CO

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Yet another alternative is Judy Diamond King Of Pension Funds... they have been around forever and their core business is collecting qualified plan data. ( Yes - there is an actual Judy Diamond - she is the founder who is now retired) Best of luck!

Comment   |  Flag   |  May 11, 2012 from Port Washington, NY

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