PLANSPONSOR - June/July 2019 - 16
COVER STORY
FEE
Having numerous options, plan sponsors
need to make conscious decisions about
managing their expenses and policies
PLAN sponsors still unmotivated to take their fee scrutiny to the next level may want to think about
the recent 401(k) lawsuits and participant claims against their sponsor peers. " The litigation these
days is all about the fees, " says Ellen Lander, founder of Renaissance Benefit Advisors Group (RBA)
LLC in New York City and Individual winner for 2019 PLANSPONSOR Retirement Plan Adviser of
the Year. Recent lawsuits have challenged the fairness of long-standing norms such as the use of
revenue sharing. " Fees matter-they matter a lot, " Lander says.
When RBA starts serving a new client, it begins by working with the sponsor to levelize the
administrative fees and make them transparent to participants. Many sponsors had been unaware
that their plan's administrative fees were not clearly spelled out, or that the use of revenue sharing
means participants can pay widely disparate recordkeeping fees, based on the funds they invest
in, she says. " I've never had a client, after I explain how [revenue sharing] works, say to me, 'Wow,
that's a really good idea to bury the fees and have some people pay a lot more than others,' " she adds.
Plan fiduciaries can help protect themselves and their participants by understanding their
plan's administrative fees and ensuring those get allocated equitably. " As a plan sponsor, if you
want to avoid trouble, you need to first be aware of what fees are being paid, " says David Stinnett,
principal at Vanguard Strategic Retirement Consulting in Valley Forge, Pennsylvania. " If it comes
about [in a lawsuit] that you are unaware of some fees, that's not good. But there's no clear right
answer here about how to allocate fees, so you do see plan sponsors grapple with the gray space, the
flexibility that is built into the law. "
16 PLANSPONSOR.com June - July 2019
Art by JooHee Yoon
VARIATIONS
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PLANSPONSOR - June/July 2019
Table of Contents for the Digital Edition of PLANSPONSOR - June/July 2019
Fee Variations
Consider This
2019 PLANSPONSOR Recordkeeping Survey
A Balancing Act
Equity Factor Investing
Going With the Plan
NQDC Investment Menus
PLANSPONSOR - June/July 2019 - Cover1
PLANSPONSOR - June/July 2019 - Cover2
PLANSPONSOR - June/July 2019 - 1
PLANSPONSOR - June/July 2019 - 2
PLANSPONSOR - June/July 2019 - 3
PLANSPONSOR - June/July 2019 - 4
PLANSPONSOR - June/July 2019 - 5
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PLANSPONSOR - June/July 2019 - 13
PLANSPONSOR - June/July 2019 - 14
PLANSPONSOR - June/July 2019 - 15
PLANSPONSOR - June/July 2019 - Fee Variations
PLANSPONSOR - June/July 2019 - 17
PLANSPONSOR - June/July 2019 - 18
PLANSPONSOR - June/July 2019 - 19
PLANSPONSOR - June/July 2019 - Consider This
PLANSPONSOR - June/July 2019 - 21
PLANSPONSOR - June/July 2019 - 22
PLANSPONSOR - June/July 2019 - 23
PLANSPONSOR - June/July 2019 - 2019 PLANSPONSOR Recordkeeping Survey
PLANSPONSOR - June/July 2019 - 25
PLANSPONSOR - June/July 2019 - 26
PLANSPONSOR - June/July 2019 - 27
PLANSPONSOR - June/July 2019 - 28
PLANSPONSOR - June/July 2019 - 29
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PLANSPONSOR - June/July 2019 - 39
PLANSPONSOR - June/July 2019 - 40
PLANSPONSOR - June/July 2019 - 41
PLANSPONSOR - June/July 2019 - A Balancing Act
PLANSPONSOR - June/July 2019 - 43
PLANSPONSOR - June/July 2019 - Equity Factor Investing
PLANSPONSOR - June/July 2019 - 45
PLANSPONSOR - June/July 2019 - Going With the Plan
PLANSPONSOR - June/July 2019 - 47
PLANSPONSOR - June/July 2019 - NQDC Investment Menus
PLANSPONSOR - June/July 2019 - 49
PLANSPONSOR - June/July 2019 - 50
PLANSPONSOR - June/July 2019 - 51
PLANSPONSOR - June/July 2019 - 52
PLANSPONSOR - June/July 2019 - Cover3
PLANSPONSOR - June/July 2019 - Cover4
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