While most 401(k) and 403(b) plans are regularly reviewing and bench-marking the fees and services of their record keeper and money managers, very few employ that same process for their plan advisor. Yet by law, especially recently promulgated DOL regulations 408(b)(2) effective in 2012, plan sponsors must know what fees are being paid by their providers for the services rendered and must determine whether they are reasonable. So why the disconnect?
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