Quick Benchmarking Tool
Simply input the total assets of your retirement plan and number of participants to obtain a quick comparison of what the “all in” costs might be under Financial Plans full service retirement plan structure*. “All in” costs include fees paid for third party administrators, record keepers, custodians, investment advice, and the expenses associated with investments.
When benchmarking a plan you don’t want to look at costs alone. It is extremely important to examine the level of service you are receiving for your money. Here are a few items that should be included for an apples to apples comparison.
- Plan Set Up Services
- Recordkeeping and Administrative Services
- Online access for administrator and participants with ability to change investment elections, automated rebalancing, etc.
- Loan Services
- Distribution Services including tax form generation
- Compliance and Regulatory Services including form 5500 preparation, plan testing, and annual audit package.
- ERISA 3(38) Investment Manager
- Investment Policy Statement (IPS) Preparation
- Open-architecture allowing you to choose from thousands of investment choices
- Massively diversified, low-cost, passively managed investments
- Benchmarking and service provider selection assistance
- Transparent fees
- Education provided by fee-only professionals who are obligated to act in the best interest of the plan and its participants.
* Actual costs will vary depending on the unique characteristics of each plan.