Does Your Company Sponsor your 401K

New Compliance Standards on the Horizon for 401K sponsors.

When I talk to 401K sponsors (employers) the questions below are questions I ask them.

What are your top 3 ideal outcomes for this plan? What?s the Plan supposed to DO?

What do you like/dislike/would you change about your current plan? What kind of complaints do you get from
participants?

Who are all the decision makers on the plan?

How much personal liability would you like to delegate for the following plan components?

• Investment selection
• Investment Policy Statement Development & Compliance
• Investment Monitoring, Trading Discretion, Reporting
• Participant Education: Ongoing material in compliance with 404(c)
• Record Keeping: Daily Valuation, Web Access, Payroll Integration
• Administration, Compliance Testing, Form Preparation

Who is the designated (3)(38) Investment Fiduciary (in writing) on your plan? If ?none?, was that decision reached: by design or default?

What are the total fees [explicit and implicit] for the primary components of your plan?

• Investments
• Advice
• RK
• Admin
• Trust
• Custody

How important is it to have your fee percentages reducing as plan assets increase?

If you find any of these questions making you uncomfortable as a plan sponsor, they should. If you want to find out more on how to make your plan compliant and reducing your liability give me a call at 610-695-8748. We can discuss how to make your plan and your conscience more safe.