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12 Questions Every Plan Sponsor
Should Know about Their Plan

Below are some foundational questions to evaluate the overall quality of your present retirement plan and the knowledge of your responsibilities and duties.

  1. Does the Plan have an Investment Policy Statement?

  2. Who is responsible for monitoring the investment options?

  3. How frequently are the plan investment options reviewed?

  4. Does the current provider assume fiduciary responsibility in writing?

  5. Are the trustees aware of the November 2007 Supreme Court ruling regarding participant lawsuits?

  6. Are the plan trustees aware that any proceeds from legal actions against the plan will come from the trustees personal assets?

  7. Does the current provider provide full fee disclosure?

  8. Does the plan receive reimbursements from the investment options to reduce plan and participant expenses?

  9. Are the plan fees “reasonable”?

  10. Are fees based upon the utilization of proprietary funds?

  11. Do participants receive personalized advice?

  12. Who provides the advice?

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