#7. 401(k) fees — what you should know
401(k) fees should be an important consideration for both 401(k) plan providers and their participants. Employees who participate in 401(k) plans can be greatly impacted by the fees and expenses of their investments. As contributions and earnings on investments increase your employees’ retirement savings, associated fees and expenses can reduce them substantially.
Unlike the high 401(k) fees traditional mutual funds charge their investors, Chernoff Diamond uses only the lowest-cost index mutual funds in our managed accounts. This greatly reduces 401(k) fees and translates into cost savings for both retirement plan sponsors and their participants.
Do You Have the LOWEST 401(k) Fees in Your 401(k) Plan?
A significant number of lawsuits have been filed against retirement plan sponsors for failing to properly administer their 401(k) plans. Are you offering the lowest cost 401(k) investment options? If not, you may be at risk. Chernoff Diamond’s investment strategies provide simpler and more appropriate investments for your employees and have the potential to eliminate excessive 401(k) fees, save your business money and reduce your liability risk of 401(k) plan lawsuits.
To learn more on how the lowest-cost investments can protect you from liability, lower the overall 401(k) fees to you and your employees and provide better plan outcomes, contact one of our consultants today at email@example.com
Up Next in our Series: #8. What are the 401(k) takeaway points?
This information is intended for educational purposes only and should not be construed as an offer to buy or sell any product or strategy. You should contact your Financial Advisor with questions regarding your individual circumstance.