Why Is This a Good Time to Examine Your 401(k) or Other Qualified Retirement Plan?

Excessive 401(k) plan fees represent the hidden cost of your plan, eroding plan participants’ savings and exposing you, as Plan Sponsor, to significant liability.
Up to 17 different fees can be charged against your plan’s assets – custodial fees, third party administrator (TPA) fees, investment advisor fees, insurance “wrap” fees and the “murkiest” of mutual fund expenses, the so-called 12b-1 and sister Sub-TA fees.
Effective April 2012, new Department of Labor fee disclosure regulations issued under Section 408(b)(2) of ERISA will require providers and Plan Sponsors to clearly disclose services provided, explain fees, reveal conflicts of interest and indicate who is acting as a plan fiduciary. This will prompt questions from many Plan Participants (employees) about the integrity of their plans. Plan Sponsors with the wrong answers could face employee lawsuits. And under certain circumstances, a lawsuit brought by Plan Participants could pierce the corporate veil and target the CEO personally.

About Xray My 401k (www.xraymy401k.com)

About Xray My 401k (www.xraymy401k.com) was designed to help 401(k) Plan Sponsors optimize plan performance and minimize fiduciary liability, and to connect them with a network of Independent Financial Advisors who can put them on the path to 401(k) plan success. Learn more by browsing our site, then take the first step by requesting your Free 401(k) Cost Comparison or Free 401(k) Risk Analysis. You may also request your free copy of our new 16-page booklet, The CEO’s 401(k) Plan Survival Guide.