Services | Retirement Plan Fee Benchmarking
Department of Labor (DOL) regulations require greater transparency of fees in defined contribution and defined benefit plans. Comparing the plan’s fees against a large peer group of similar retirement plans is an effective means of determining fee reasonableness.
Why Is Fee Benchmarking Necessary?
- Reviewing the total value of each service provider is essential, but can be overwhelming for a Plan Sponsor.
- Fee benchmarking is a prudent and cost-effective method to aid the Plan Sponsor in meeting its fiduciary standard of conduct.
- Plan Sponsors should commission an independent firm to complete a fee benchmarking analysis of the plan’s service providers.
Atéssa has successfully benchmarked both defined benefit and defined contribution plans for Fortune 10 companies. Atéssa’s in-depth analysis and customized benchmarking reports will provide the Plan Sponsor with the data and insight to make essential fiduciary decisions.
Please contact Mike Bourne at 858-673-3690 x109 or firstname.lastname@example.org to further discuss benchmarking your retirement plan. Atéssa will be happy to provide a complimentary “total plan fee” estimate based on your plan’s publicly available fee disclosures on Form 5500.