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Fee Disclosure
United Retirement Plan Consultants Unintended Consequences

Fee Disclosure and 404(a)(5) Documentation

Download the Participant Fee Disclosure FAQ

Fee disclosure, benchmarking and transparency in retirement planning are good things for everyone involved. But did the U.S. Department of Labor intend for its new fee disclosure regulations to make small businesses highly vulnerable to penalties and litigation stemming from employee retirement plans? A business owner—the retirement plan sponsor—is a fiduciary of the plan. This means owners must guarantee that their retirement plan service providers and investments are performing the very best they can for employee plan participants.

shutterstock_138129767When it comes to compliance, business owner/plan sponsors should rightly look to their financial advisors and a retirement plan TPA. However, some TPAs may not have the right resources or systems in place and will be in a headlong scramble toward compliance; contacting various record keepers, searching websites, downloading forms, and trying to complete paperwork to compile a disclosure package. Lingering questions about full compliance may well remain

To help our plan sponsors and their financial advisors avoid the pitfalls of the new Department of Labor disclosure and compliance regulations, United Retirement Plan Consultants got out in front of the problem and generated participant fee disclosure 404(a)(5) documentation for all our plan sponsors and participants. We took it upon ourselves to absolutely ensure timely and accurate compliance for our clients.