6 tips to make sure your DC plan is successful
Defined contribution plans are becoming more and more the primary employer-sponsored retirement plan for most Americans. Yet, along with participants’ need for strong performance, plan sponsors must deal with increased regulatory activity, governance requirements and fiduciary concerns. Mercer’s Toni Brown and Bill McClain share how to make sure your plan is as successful as it can be. For more information on DC plans, visit Mercer.com.
6. Fee allocation: Get ready for the spotlight
New fee disclosures will bring heightened scrutiny of fees. Has your committee reviewed and documented your plan’s methodology for allocating fees to participant accounts (whether through revenue sharing or other methods)? Be prepared to defend your allocation methodology against participant inquiries and fiduciary lawsuits. [Images: Thinkstock]
