The deadline for plan sponsors to begin disclosing fees in the 401(k) space is just around the corner. There are five ways to properly communicate, explain fees and meet participant deadlines. First, know who is providing services to the plan including a recordkeeper, advisor, lawyer or auditor. Review your fees and services, document actions and decisions and keep in your fiduciary file. Once you determine who you need to provide disclosure to, assess how to communicate with each participant and determine if you meet electronic delivery rules or will you do hard-copy mailings. The fourth step is to understand how participants are paying fees. Finally, know your deadline for participant disclosure.
5 Fee Disclosure Steps for Plan Sponsors (BenefitsPro)
Related Life Settlements Resources
For the first time, Assurity Life Insurance Company is providing INSTANT ACCESS to a consumer facing video that shares the story of a producer on his personal experience with surviving a critical illness and the benefits the policy delivered.
We may be the new kid to the Group Market, but we have over 50 years experience in the life and health insurance industry. And a proven track record of great customer service.