Fee Comparison Tool

The Importance of Fee Comparison
The Department of Labor has set a high standard for plan sponsors regarding the reasonableness of fees associated with qualified retirement plans. It is crucial that, as plan fiduciaries, we determine if the costs associated with corporate sponsored retirement plans are reasonable. A truly unbiased and high quality peer group comparison is the most efficient and comprehensive approach for this responsibility. LPL Financial Retirement Partners has partnered with Fiduciary Benchmarks Inc. to create a procedure and output that makes this process seamless.

LPL Retirement Partner’s Fee & Analysis Evaluation        
The LPL Retirement Partner’s Fee Comparison & Analysis Evaluation, powered by peer group data from Fiduciary Benchmarks, allows us to quickly and simply compare plan fees along with value and design complexity against an appropriate peer group; in a format that plan sponsors can quickly read and understand.  This four page report is integrated within the LPL Fiduciary Monitoring Toolset, allowing us to leverage plan data already entered into the system and drive efficiency. 

How it Works
The Fee Comparison & Analysis Evaluation uses your existing plan data within the Fiduciary Monitoring System, combined with additional relevant statistics to create a comprehensive fee analysis report that includes an analysis on:

  • Investment management fees
  • Recordkeeping fees
  • Advisor/Consultant fees
  • Total plan fees
  • Plan benefits & features

This comprehensive evaluation tool is yet another example of LPL Financial Retirement Partners commitment to helping provide a premier analysis and reporting solution that allows us to remain ahead of the curve in today’s complex retirement plan regulatory environment.