The complexities of 401(k) plans when combined with lack of clear fee disclosure have fostered an environment where many plan sponsors may find they are being sold plan services rather than being a knowledgeable buyer of plan services.
According to the Departnment of Labor you must know the answers to questions like:
- What is a fiduciary?
- What are a fiduciary’s responsibilities?
- What is a reasonable cost for plan services?
Without a clear understanding of the many facets of operating a plan it is quite easy to stray down a path based on incomplete or misinformation.
Over the past 20 years there is little that we haven’t seen in the way of 401(k) plan services and packages. While we offer and recommend our own open architecture
platform, the structure of our company allows us to offer products from insurance companies, mutual fund companies, even providers that might be considered our competition.
Access to this variety of resources lets us be completely objective in our recommendations.
Transparency and sponsor education have always been the most effective tools for us in winning new business. In the following pages we offer what we hope is an informative, succinct overview of all subjects 401(k). Please take a few minutes to become better informed about plan services and perhaps answer the question: Why Millikin Mandt Associates, Inc?
Investment Selection
Fee Transparency
Plan Design
Am I a Fiduciary?
Monitoring Performance
Investment Policy