401(k) Fee Benchmarking: Expert Analysis for Plan Sponsors

We provide complimentary initial consultations to assess your plan and explain our benchmarking process. Our annual fee structure depends on your plan size and complexity. Most employer sponsors find the cost savings we uncover in excessive fees far exceed our fees. We're transparent about pricing upfront with no hidden charges or revenue sharing arrangements that create conflicts of interest.

Three things: we generate over 90% of our revenue from retirement plan work (true specialists, not generalists), all advisors act as 3(21) or 3(38) named fiduciaries directly reducing your fiduciary liability, and our Live Bid benchmarking analyzes 450+ data points per provider using your actual plan data. We're independently owned with no parent company products to push.

It depends on your current relationship and how your plan costs compare to market rates. If your provider offers competitive pricing but you're paying for unnecessary services or high cost funds, renegotiation often works well. If fees charged to plan assets are significantly above market or service quality is poor, a provider switch may better serve plan participants. We help you weigh both options with a complete cost-benefit analysis.

Most fee benchmarking studies for 401(k) plans are completed within 3-4 weeks from your initial consultation. The timeline includes gathering your 408(b)(2) disclosures, conducting our Live Bid analysis, and preparing your comprehensive report. If you choose to pursue an RFP for alternative service providers, that process typically adds 6-8 weeks.

You need benchmarking if your 401(k) plan hasn't been evaluated in the past three years, you're unsure whether plan fees are competitive, employees are asking questions about plan costs, or you're approaching a provider contract renewal. You also need it if you've experienced significant growth in plan assets since your last review, as asset based fees may have increased automatically.

We provide annual benchmarking to ensure plan fees remain competitive as the market evolves. Our quarterly investment monitoring includes ongoing expense ratio reviews and fund performance analysis. All clients receive our Virtual 401(k) Fiduciary File documentation system and access to regulatory updates when Department of Labor guidance changes. We maintain ongoing relationships with plan fiduciaries, not one-time projects.