Easy 401(k) Review

401(k) Plan Review
Are you satisfied with the level of day-to-day service from your current
provider and advisor?
1. What’s working?
2. What would you change?
Are plan costs in-line with the industry?
1. Did you receive 408(b)(2) fee disclosures from all covered service
2. Were the disclosures complete and accurate?
3. Did you evaluate the disclosures to determine if fees are reasonable
(industry, fund, and provider fee benchmarks)?
How do you feel your fiduciary risk is being mitigated?
1. Do you have a contracted fiduciary on the plan?
2. Are regular investment reviews being conducted?
3. Are you reviewing a fiduciary checklist at least annually?
4. Are you receiving meeting minutes, fund watch lists, and
documentation of fund and fee reviews from your advisor?
5. Do you maintain a fiduciary audit file?
Are you satisfied with the performance and selection of investment
1. Are participants asking for more investment flexibility?
2. Do you have an Investment Policy Statement (IPS)? How often do you
review the IPS for adherence to its mandates?
What type of education is being provided to employees?
1. How often are group education meetings conducted?
2. Are one-on-one meetings offered to employees?
3. What percentage of your employees are on track to meet retirement
income needs?
4. What type of education has been most effective for your employee

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