It is important to know about plan-related fees, both for your own sake and for fielding questions from employees. The fact that the U.S. Department of Labor (DOL) says fees must be reasonable and understandable is yet another incentive.
Because fees can impact retirement income over the long term, you need to be able to explain why the fees for your plan are reasonable in comparison to fees in other plans. The DOL Web site provides objective information about evaluating plan fees. NADART provides similar details through our Understanding and Comparing 401(k) Plan Fees booklet, which contains an explanation of how 401(k) plan fees are calculated, a glossary of 401(k) expense terms, and a 401(k) Plan Cost Disclosure Worksheet.
If you would like to find out more about the plans offered by NADART and the fees we charge, please contact us at nadart401k@nada.org or call (800) 462-3278, ext. 7161.