Fee benchmarking is a low cost easy method to assess the reasonableness of fees charged for services rendered by comparing a plan to similar plans by participant size and total assets using our proprietary, independent, and objective database. Based upon the benchmarking results, a fiduciary is able to document a prudent process to support their subjective assessment of each service provider’s value of services rendered accurately and efficiently.Learn More
If you are not a subscriber of the PlanTools™ Risk Management System but would like a benchmarking report, you have two options:
Option 1: Gather the accurate fees and expenses to be benchmarked, complete, and return a data collection sheet, and within 48 hours receive your benchmarking report. The cost is $975.
Option 2: Provide the underlying plan related documents such as service contracts and 408(b)(2) disclosures to PlanTools for analysis and report preparation. The cost is $1,425. If you are a plan sponsor, local representation can be provided.