Finding Fees to Satisfy DOL Rule

A question I keep hearing is “how do I determine the fees associated with the 401(k) or other retirement plans that a client currently owns?”  Good question and could be a difficult one to answer.  Here are some suggestions:

  1. Ask the client to provide you with the Summary Plan Description for the plan.  This should have the information that you require.
  2. Check out a website  It looks like they will provide the information, but you may receive solicitations after entering information to obtain a response.
  3. RiXtrema’s tool IRAFiduciaryOptimizer is a paid software that could be of assistance.

If any of you try these, I would appreciate any feedback.

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