Balancing Fees and Services
Do you know how much your retirement plan costs? ERISA requires that retirement plans must have reasonable plan expenses. But how do you know if the fees are reasonable? And what does “reasonable” mean anyway? The DOL doesn’t have specific benchmarks, but generally recommends that plans look at live bids from other providers every three to five years to see how the pricing stacks up. Through our exclusive tools and services, we can create a thorough market analysis so that you have a solid read on the current market.
Provider benchmarking and plan analysis
- Competitive Analysis of Provider Cost, Services and Investments against other Bidding Providers using our B3 Provider Analysis Benchmarking tool.
- Evaluation of Administrative, Recordkeeping, Compliance, Website/Statements, Investment Management, and Employee Communications Services.
- Cost Analysis compares Provider Compensation, Investment Management Fees and Total Plan Costs.
- Investment Analysis compares Current and Proposed Investment Lineups using Scorecard System™
- Negotiation of Provider Compensation, Investment Changes and Service Commitments is included.
- Assist in the Selection, Coordination and Review of Service Provider Finalist Presentations
- Executive Summary to Document Committee Discussions and Actions
- 12b-1: Paid by mutual funds from fund assets for broker commissions, marketing, expenses and other administrative services.
*Securities offered through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC. Investment advisory services offered through Kestra Advisory Services, LLC (Kestra AS), an affilate of Kestra IS. Kestra IS and Kestra AS are not affiliated with Mel Foster Insurance Company or any entity referenced herein. This site is published for residents of the United States only. Registered Representatives of Kestra Investment Services, LLC and Investment Advisor Representatives of Kestra Advisory Services, LLC, may only conduct business with residents of the states and jurisdictions in which they are properly registered. Therefore, a response to a request for information may be delayed. Not all of the products and services referenced on this site are available in every state and through every representative or advisor listed. Neither Kestra IS or Kestra AS provides legal or tax advice. For additional information, please contact our Compliance department at 844-5-KESTRA (844-553-7872).