Compliance Review Services

As a plan sponsor, one of your fiduciary duties is to obtain an independent plan review of your retirement plan by a qualified expert outside of your current providers. An independent reviewer may see something that has been overlooked by others, which could save money for you, your employees and may improve benefits. A comprehensive plan review and benchmarking is necessary as it compares the following attributes of your plan to marketplace standards:  Total Fees (Management, Adviser, Administrative, RecordKeeping and Participant)  

  • Quality and diversity of your investment fund line-up
  • Competitiveness of your plan design and features  
  • Participant success with enrollments and investments  
  • Plan’s level of fiduciary compliance  

Results from Benchmarking:  

  • Your plan is on track and needs little or no adjustments.  
  • Your plan is mostly on target, but there may be some small adjustments that should be made.  
  • Your plan has some major areas that could be improved and / or compliance areas that need attention.  

Regardless of which outcome is applicable to your situation, the plan review, benchmarking report and minutes of the meeting is kept in your fiduciary file. As a part of your ongoing fiduciary responsibility, you should plan on having another review every 2 to 3 years.


Our Compliance Review Packages are designed to keep your 401(k) on track!