Plan sponsors (i.e. company owners who have 401(k) plans) have a fiduciary obligation to act in the best interest of the plan participants. This includes having a plan with reasonable costs and prudent investment options. This New York Times article discusses the many reasons that choosing low-cost index funds as 401(k) investment options will help a plan sponsor fulfill his or her fiduciary obligation.
If you are a plan sponsor, Wise Planning can help you fulfill your fiduciary obligation. Click here to try our 401(k) calculator and see what your plan costs could be. For a more detailed analysis, we offer a complimentary review of your 401(k) Plan Fees and Investment Options. If you are interested in taking advantage of this opportunity, contact us.