retirement plan fee transparency...are you prepared? (a guide for credit unions) | pentegra
DESCRIPTION
Fees and expenses are a part of every retirement plan. The new Department of Labor fee disclosure rules are designed to help you and your participants understand what you are paying for the services that you receive and the investments that you choose in your retirement plan. What you probably didn't realize is that as a plan fiduciary, you have legal obligation to review your plan fees. All plan sponsors have a fiduciary responsibility to ensure that a retirement plan is being operated in the best interests of plan participants. A critical part of that responsibility includes evaluating plan fees and expenses, and determining if plan costs are fair and reasonable -- because plan costs impact returns for participants and how much they ultimately accumulate for retirement. The new fee discloser rules are designed to make this process easier for plan sponsors and participants to compare plan costs and fees, and help determine whether these fees represent good value for the services being provided. Learn more about how to understand and evaluate your plan fees and expenses in this helpful guide from Pentegra Retirement Services. http://www.nafcu.org/pentegraTRANSCRIPT
