Do you have questions about fees related to your retirement plan? You’re not alone, according to a study by market research firm Chatham Partners. The study, which was recently mentioned in Employee Benefit News, found that while plan sponsors feel fee disclosures are sufficient for now, many want access to more details in order to stay ahead of the curve. While 79 percent of those surveyed recognize the importance of understanding plan-related fees, only 58 percent felt that they did understand them well enough to keep one step ahead of questions from participants.

Plan sponsors surveyed for the study want:

•    Easy-to-understand descriptions of fee components
•    Clear communications about their fee-related fiduciary responsibilities
•    A reliable comparison of fees in similar plans

Lower fees can potentially boost enrollment figures, since less money paid for fees means participants will have more for retirement-related investing and saving. Greater participation and saving by the rank and file (i.e., non-highly compensated employees) may also benefit your plan’s highly compensated employees (HCEs), who may be able to save more without worrying about the refunds sometimes necessitated by compliance-related testing.

By sponsoring a NADART plan, you can take advantages of some of the lowest plan-related fees in the industry. For details, you can request a copy of our Understanding and Comparing 401(k) Plan Fees booklet through our Product Information Request Form. Or you can speak to one of our Marketing representatives and we will be happy to provide a free cost analysis. Please contact us at (800) 462-3278, ext. 7161 or e-mail us at nadart401k@nada.org.