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The Five Most Common
Employer Mistakes

  1. The rationale for the selection and retention of 401(k) retirement plan investment options and financial service providers is not documented;
  2. The reasonableness of plan fees and expenses has not been compared to “market rates” via competitive proposals or an independent benchmarking report;
  3. The plan investment options are not regularly monitored by the employer;
  4. The employer relied upon a non-fiduciary financial advisor’s investment menu recommendations which included hidden fees and biased selections; and
  5. The ineffective education of plan participants has resulted in below average participation rates and poor investment selections.