IMPORTANT 401K PLAN EMPLOYEE BENEFIT NEWS

IMPORTANT 401K PLAN EMPLOYEE BENEFIT NEWS

This week - A Large Payroll company is being sued over its role as the fiduciary of a multiple-employer 401(k) plan by a sponsor that alleges ERISA violations, such as allowing "unreasonable" record-keeping and administrative fees and selecting "high cost and poorly performing investments."

What does this mean?

• Business Owners and Managers need to have annual check-ups on your 401K Employee Benefits plan to make sure the fees are reasonable, and the investment options are not charging too high of fees.
• Fees are chipping away at the hard-earned money workers are trying to save for retirement. Lower fees means more savings.
• It may be best to have a specialized company who only run 401k Employee Benefits plans to handle this benefit for you. You wouldn't trust your Barber to do your Dry Cleaning, would you?
• The right retirement advisor and third party administrators can take the stress and pain out of all your check-ups and compliance needs of your Employee Benefits plan

Have Questions? Contact Us for a Free Employee Benefits Plan Evaluation.
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