Step 1: Uncover Your Current Costs
Most 401(k) fees are buried in complex disclosures or hidden inside fund expenses. The first step to lowering costs is understanding what you’re actually paying.
Request these key documents from your provider:
- 408(b)(2) Fee Disclosure – Required by the Department of Labor; shows advisor, recordkeeping, and fund-level fees.
- Statement of Assets – Lists each fund and its balance, which helps determine the weighted expense ratio.
- TPA Agreement (if applicable) – Some plans use a third-party administrator (TPA) who may charge your company directly for plan testing, Form 5500 preparation, and compliance services.
If you’re unsure where to find these documents, we can help.
Step 2: Identify the Services You Actually Need
Meet with the people who handle your 401(k) daily like HR, office managers, legal administrators and gather feedback about what’s working, what’s not, and what support they wish they had.
Use that feedback to outline a clear Request for Proposal (RFP) if you want to explore new providers.
Here are a few areas to consider:
- Core Plan Admin: Form 5500, compliance testing, annual notices, loans/distributions, employer match calculations
- Advisory Services: Investment monitoring, employee education, fiduciary oversight
- Added Value: Payroll and benefit integration, Spanish-language education, better fund menus, more hands-on service
We’ll help you prioritize what matters most based on your needs.
Step 3: Compare Your Options
We'll help you evaluate your current plan against alternatives in plain English and at no cost.
Here’s what you can expect:
- No pressure, no obligation. You’re free to use our findings however you’d like.
- Helpful support, not a sales pitch. You won’t be hassled or added to a call or email list.
- Clear proposal, side-by-side. If you’d like, we’ll create a custom proposal you can compare directly with your current setup.
Need help reviewing your fees? Send us your documents from Step 1.
Unsure what services matter? We'll walk through them together.
Want to know if you're overpaying? We'll show you a better option if one exists.
Ready to Get Started?
We make it easy. There’s no cost unless you hire us.