B1 Fee Benchmarker

The B1 Fee Benchmarking Report is meant to supplement the B3 with a systematic process to determine if a retirement plan’s fees may be deemed reasonable when compared against national normative data. Using a combination of B3 and B1 over multiple years is recommended as a best practice in meeting fiduciary responsibilities under ERISA. The pricing models in this B1 report have been designed based on data provided by your service provider and may vary based upon:

  • The assumed number of total, eligible, or participating employees in this proposal and the actual number;
  • The annual recurring plan contributions and/or plan assets and actual plan contributions and/or plan assets;
  • The underlying menu of investment options and/or the asset allocation used for pricing purposes and the actual investment options chosen by the plan sponsor;
  • Additional plan services not included and quoted in this proposal, including, but not limited to self-directed brokerage accounts, outside asset recordkeeping, recordkeeping of employer stock, individual online investment advice, calculation of employee eligibility, and other outsourcing services; educational employee communication needs; and
  • Any and all market value adjustments, surrender charges, and contract termination charges that are levied by the existing plan provider and are credited back to participant accounts by the new plan provider.