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Control Your Plan Costs

Reduce Plan Fees

Plan administration and recordkeeping cost structures vary from vendor to vendor in the retirement plan industry. By analyzing vendors and utilizing more cost-effective options, employers can discover significant savings every year. A 1% reduction in retirement plan fees, can add up to 30% to the participant's account by the time they retire.

Reduce Investment Fees

Retirement research shows that passively managed funds, also known as index funds, are better long-term solutions. Large firms typically don’t offer low-cost index funds or add fees for using these funds. In actively managed funds, cost typically erodes performance of the manager. A 1% savings in investment fees can add up to 30% to the participant's account by the time they retire.

Increase Contributions

By educating employees on the importance of a retirement plan and the power of tax-deferred or tax-free investments, employees will likely become more involved in their retirement. A 1% increase in employee contribution can add up to 30% to the participant's account by the time they retire.

 

By following these simple steps, by the time a participant retires they will have grown their account size by 94%.

The Retirement Savings Drain

 The hidden excessive costs of 401(k)s

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