As 401(k) plans grow and add participants, fees are often left unchanged for years—despite ongoing fee compression across the industry driven by increased competition and lower-cost investment options. This disconnect can result in plans paying more than necessary for the same, or even diminished, levels of service. Regular fee benchmarking and renegotiation remain essential fiduciary practices, helping plan sponsors align costs with current market standards and ensure they are receiving appropriate value. Even small adjustments can lead to meaningful cost savings, improved plan efficiency, and better long-term outcomes for participants.
At the conclusion of the first TPSU program held in Columbus, Ohio, Fred Barstein sat down with Tyler Deck of Oswald Financial to discuss practical strategies for improving retirement plan outcomes. Deck emphasized the importance of getting “under the hood” of a plan—evaluating fees, investments, and overall design—to uncover opportunities for improvement. He reinforced that while fee oversight is a critical first step, participant education is equally important. Through the use of licensed “Money Coaches,” Oswald Financial delivers personalized guidance based on plan data and participant behavior, helping individuals make more informed financial decisions and strengthening overall retirement readiness.
Fred Barstein:
This is Fred Barstein, Founder and CEO of 401kTV, TPSU, and TRAU. We just completed our first TPSU program here in Columbus, Ohio, and I’m here with one of our adjunct lecturers, Tyler Deck from Oswald Financial. Tyler, welcome—and thanks for joining us.
Tyler Deck:
Absolutely, thanks for having me.
Fred Barstein:
Before we dive in, tell us a bit about yourself and your firm.
Tyler Deck:
I’m Tyler Deck, and I lead our retirement plan advisory efforts in Columbus and Cincinnati with Oswald Financial. We primarily focus on corporate retirement plans.
Fred Barstein:
What are you most passionate about when working with plan sponsors?
Tyler Deck:
Especially with new plan sponsors, it’s about getting under the hood—understanding the details of their plan, from fees to investments to plan design—and identifying simple tweaks that can help drive better outcomes.
Fred Barstein:
What are one or two of the most impactful—and easiest—things plan sponsors can do?
Tyler Deck:
First is reviewing fees. As plans grow and add participants, fees often go unchecked for years, even as the industry continues to compress pricing. Helping sponsors understand what they’re paying—and negotiating that down—can have an immediate impact.
Second is participant education. Having a strong education program can significantly improve outcomes.
Fred Barstein:
Are you directly involved in those education programs, or do you have a team that supports that?
Tyler Deck:
We have a team—we call them Money Coaches. They’re licensed financial advisors who provide one-on-one coaching to participants. We also work closely with plan sponsors, using data and participant feedback to tailor those programs.
Fred Barstein:
Great. Final question—your first TPSU program here in Columbus. What did you think, and what do plan sponsors gain from attending?
Tyler Deck:
It was great—really strong engagement. There was a lot of peer-to-peer learning, with attendees sharing what they’re seeing in their own plans and learning from others. We also covered key trends and what’s coming next, which helps sponsors stay ahead of the curve as they manage their plans and support their employees.
Fred Barstein:
Retirement is one of the few bipartisan issues, and there are ongoing efforts from Congress and the Department of Labor to improve the system—so staying informed is critical.
Tyler Deck:
Absolutely.
Fred Barstein:
Tyler, thank you for joining us.
Tyler Deck:
Thank you.
Fred Barstein:
And thank you for watching 401kTV.
