In your business you wear many hats and managing your company’s retirement plan can be stressful and time consuming. However, as a fiduciary it is your responsibility to make sure the plan has the right mix of investments as well as ensuring the participants (employees) are paying responsible fees within those investments. As the fourth quarter of 2019 wraps up, it is a good time to review these items within your plan so that if changes need to be made they can be made for the 2020 plan year.
If you have any questions or would like to review your plan to ensure you are meeting your fiduciary responsibilities, please give me a call.
Fiduciary Responsibility and Mutual Fund Fees
Article from Forbes.com
Fiduciary responsibilities can be stressful for any business administering a 401(k) plan, with investment-related responsibilities being especially daunting. One of the most difficult investment-related responsibility is ensuring participants are paying reasonable fees for their mutual funds. This can prove to be difficult to find the cheapest, yet most effective option due to the sheer amount of investment options. Operated by money managers, a mutual fund is a vehicle made up of money collected from multiple investors to invest in securities. Click here to continue reading this article.