Home
Products
Personal Financial Planning
Business Consulting
Insurance Quotes
Retirement Plans
Business Planning Insurance
Business Continuation Programs
  Structured Settlements
  401K/Cost Analysis
Home > Business Consulting > 401K/Cost Analysis
401K/Cost Analysis
The Employee Retirement Income Security Act of 1974, as amended (ERISA) requires employee benefit plan fiduciaries to act solely in the interests of, and for the exclusive benefit of, plan participants and beneficiaries. As part of that obligation, plan fiduciaries should consider cost, among other things, when choosing investment options for the plan and selecting plan service providers.

Selecting a service provider requires that you evaluate and differentiate services offered by competing companies. Cost is one of the criteria, but not the only factor, for making this evaluation. Other issues of equal or greater importance to consider include the quality and type of services provided, the anticipated performance of competing providers and their investment products and other factors specific to your plan's needs.

Calculation of Fees

In general, fees are calculated in four ways:

 Asset-based: expenses are based on the amount of assets in the plan and generally are expressed as percentages or basis points.
 Per-person: expenses are based upon the number of eligible employees or actual participants in the plan.
 Transaction-based: expenses are based on the execution of a particular plan service or transaction.
 Flat rate: fixed charge that does not vary, regardless of plan size.

Fees may be calculated using one or any combination of these methods. Plan administration-related expenses can also be charged as one-time fees or ongoing expenses. One-time fees are typically related to start-ups, conversions (moving from one provider to another) and terminations of service. Ongoing fees are recurring expenses relating to continuing plan operation.

Here, at Independent Planner LLC. we provide a complete analysis of your current plan or any plan that you may be considering. If interested please click here to contact us or call 1(800)279-0298.
 
Privacy Policy  |  Software Upgrades  |  Site Map
Copyright 2003 Independent Planner LLC.
Contact Independent Planner LLC. today at (716).634.8705 - (800).279.0298 - (716).634.1636 (fax)
E-mail:info@independentplanner.com
Securities and Financial Planning Services offered through First Allied Securities, Inc. Member FINRA/SiPC