How do you know if your 401(k) plan fees are reasonable or excessive?

Due to an industry-wide lack of fee transparency, its often difficult for plan sponsors (employers) to decipher what plans really cost. This leads to hidden fees, overly expensive investment options, and excessive asset-based fees– all result in a drag on your employes’ savings.
To help you understand your plan fees, The Prudent Planner offers a complimentary comparison where we will total all of the compensation a 401(k) pays to its service provider(s) and fund companies into a single, “all-in-fee” and then compare it to industry averages and the “all-in-fee” we would charge to manage your 401(k).
These comparisons can be completed with minimal time and effort on your part, and are based on the following information:
1. ERISA 408b-2 — plan sponsor 401(k) fee disclosure
2. Current fund line up with balances
3. Participant count
Bottom line, when your complimentary comparison is complete, it should be crystal clear whether fees are reasonable or if a change is in order.