Corporate 401(k) Plans

Employers’ 401(k) Responsibility

Employers who sponsor 401(k) plans for their employees have a fiduciary responsibility to monitor, review and safeguard the plan for the benefit of the participants. Responsibilities include picking a prudent investment lineup, monitoring plan expenses and plan service providers, and complying with various administrative responsibilities outlined by governing laws and plan documents. These duties can be daunting for an employer, but with the help of a 401(k) plan consultant, you can gain confidence that your fiduciary responsibilities are met while providing your 401(k) participants with low cost, exceptional services.

Under this partnership, a primary goal is lowering 401(k) plan expenses while maintaining high quality services for the employer and the employees. Plan expenses are often tough for an employer to navigate due to the many ways a plan can be charged. Expenses can be charged to the employer directly in a variety of ways, such as deduction from plan assets and participant accounts, and discreetly embedded within the investments, effectively reducing investment returns. An evaluation of such fees will fulfill an employer’s fiduciary responsibility and it will likely return costs savings for both the employer and the employees.

DHJJ Financial Advisors: Expert 401(k) Plan Consultant Services

We encourage 401(k) plan employers to reach out to DHJJ Financial Advisors for a discussion on plan services and a complimentary evaluation of plan expenses. Please contact DHJJ Financial Advisors at 630-420-1360 if you’d a 401(k) plan consultant to review your plan and see if there is cost-savings potential.