Your 401(k) account was up 10-20% in 2017? Good, but so were your fees. If costs are paid as a % of plan size, whenever your plan grows, fees grow, automatically.
It’s outrageous. It’s automatic & nearly silent.
You’ll likely never get an invoice. You’ll just get a required disclosure that few CEOs and CFOs ever read carefully. That’s how it works in the vast majority of plans under $25 million.
It’s likely that no other expense you have went up double digits last year.
Even worse, if you have a large share of the plan assets and fees are paid out of participant balances, which is the norm, thousands of dollars in fees came out of YOUR retirement account last year and will again.
Let me help you and your employees by shining a light on your plan costs, including those that are hard to find. I don’t charge for the service and it takes very little of your time. It’s a prudent practice that the DOL says should be done on a regular basis. Not doing it can be a breach of fiduciary responsibility.
Give me a call if you care about fees. 704-698-1040 DaveH@CornerstoneInvestment.com
Dave Hoshour