Lawton Retirement Plan Consultants, LLC (LRPC) offers complimentary 401k plan benchmarking services. Unsure if your plan is competitive in the marketplace? Let LRPC conduct a 401k plan benchmarking analysis. The results will compare the following attributes of your 401k plan to marketplace norms:
- Investment management fees;
- Investment adviser fees;
- Administrative/recordkeeping fees;
- Participant transaction fees;
- Total fees;
- The quality of your investment fund line-up;
- The diversity of your investment fund line-up;
- The competitiveness of your plan design;
- The overall complexity of your plan;
- Participant success measures;
- Your plan’s level of fiduciary compliance; and
- How effectively your participants have invested in your plan.
Resources: 401k Plan Benchmarking
401k Decision-Making And Documentation Best Practices. Are you making retirement plan decisions using a prudent process? Do you always put the interests of plan participants ahead of the company’s when considering plan issues? This article contains a list of the best practices related to decision-making and documentation.
401k Fees Best Practices. Are your plan fees market competitive? Do you meet your fiduciary obligations regarding provider fee review each year? Consider these best practices relating to fees.
401k Investment Menu Best Practices. Interested in how your investment menu stacks up versus this marketplace? Take a look at this article which outlines current best practices for 401k plan investment menus.
401k Plan Design Best Practices. Are you questioning whether your plan design is still market competitive? A leading-edge 401k plan currently has the plan design features outlined in this article.
401k Plan/Financial Wellness Education Best Practices. Have you started planning your annual 401k employee education sessions? Generally, most plan sponsors conduct employee education sessions during the early part of the new year to explain changes that went into effect on January 1. As you think about your annual education sessions, keep the 401k education best practices in this post in mind.
Best 401k Plans Have These Six Features. Each year Brightscope, an independent financial information company that aggregates retirement plan data, releases a list of what it believes are the best large 401k plans. This article shares the six plan features that Brightscope says result in a 401k plan receiving a high ranking, along with my comments on each feature.
Does Your 401k Investment Adviser Measure Up? Each year retirement plan sponsors should take time to evaluate their providers. Included in this group is your 401k investment adviser. Most plan sponsors use an investment adviser to help them with their 401k plans. This is a smart decision since many advisers are able to save plan sponsors at least as much as they charge. This post will help you learn if you are working with the right 401k investment adviser.
Five Reasons To Benchmark Your 401k Plan This Year. Are you in the practice of benchmarking your retirement plan on a regular basis? Have you ever benchmarked your 401k plan? This article explains why you should benchmark your plan this year.
Four Steps To A 401k Provider Review (PDF). Every three to five years the Department of Labor (DoL) would like you, as the plan sponsor, to review the providers that work with your retirement plan. As a fiduciary to your plan, you have an obligation to ensure that the providers you are working with are appropriate and that their fees are reasonable. This article shares some suggestions for managing a provider review process.
Services To Expect From Your 401k Investment Adviser. Use the criteria in this article to evaluate the services you should be receiving from your investment advisor.
Seven Signs Of A Successful 401k. Over the 30 years that I have spent consulting with plan sponsors about their 401k retirement plans, I have noticed that the best plans have the seven attributes outlined in this article.
Ten Attributes Of A Retirement Ready 401k Plan. Is your 401k plan retirement ready? Take a look at this checklist to make sure.
Lawton Retirement Plan Consultants, LLC
342 North Water Street
Milwaukee, WI 53130
(414) 828-401k (4015)