Companies are currently placing a high priority on benchmarking their 401(k) plans. This is done to gain valuable insights into the performance of their plans and to compare them with similar offerings in the market. The aim is to ensure that both the fees and investments associated with these plans remain competitive within the current market landscape. Thorough analysis through benchmarking serves to provide documented evidence for responsible investment practices. This, in turn, empowers decision-makers to make informed choices, ultimately optimizing the 401(k) plans for the financial well-being of employees.
The practice of objective benchmarking plays a pivotal role in evaluating the reasonableness of 401(k) plan fees when juxtaposed with live market proposals. Additionally, it facilitates the assessment of the portfolio structure and aids in effectively communicating the principles of responsible investment to the workforce. Historically, acquiring accurate benchmarking data has been a challenging endeavor due to resource constraints. However, our refined benchmarking process now offers tangible real-life proposals, data, and information. These invaluable resources are designed to assist you in making well-informed decisions regarding your retirement plan. We are enthusiastic about the opportunity to support you on this fiduciary journey!