Ask yourself these questions about your company retirement plan:Does your plan have an Investment Policy Statement (IPS)? In the past year, have you reviewed the performance and fees of your 401(k) investment options?Do you know if your plan is using the lowest-cost share class investments?Does your plan include investment options from multiple fund families?Is all revenue sharing generated by your plan’s investments utilized to offset fees or allocated back to participants? Do you know the average expense ratio of your investment lineup?Do you know how your fund’s expenses, ratios, and performance compare to the benchmark?When was the last time you updated your fund lineup?Are you monitoring your fund lineup on a quarterly basis?Do you know if your plan is using the lowest-cost share classes?Do any of the funds in your plan include revenue sharing?Does your fund lineup enable participants to construct a well-diversified portfolio?
If you answer “No” or “I don’t know” to any of these, then you may be subjecting yourself to increased fiduciary risk. Company retirement plans are subject to many regulations implemented by the Department of Labor and the IRS. Under these regulations, 401(k) plan fiduciaries, such as trustees, have legal responsibilities related to the plan, and can be found personally liable if these responsibilities aren’t properly carried out.
Investment Advisory Services offered through Plan Strategies, Inc., a Registered Investment Adviser. Recordkeeping and Third-Party Administration services may be offered through LT Trust. LT Trust and Plan Strategies are affiliated and under common ownership.