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Retirement plan fees are often discussed, but poorly managed. In 2012, for the first time, retirement plans subject to ERISA will be required to provide participants information on how retirement plan expenses are paid and their impact on participant returns. This disclosure and the anticipated media spotlight on fees will likely bring questions from participants about their expenses and how they are allocated among participants.
Plans that have negotiated competitive fees with their vendors have only done some of the work. The question facing us in 2012 is this: How do plan sponsors allocate their expenses between participants and plan sponsors, and between participants in different investment products?
In this presentation, we will discuss the requirements for disclosure; fee policy statements; PERA and ERISA budget accounts; and fee parity.