A news release said Fiduciary Benchmarks began issuing reports to clients during mid-October 2009. The company released its first report titled Fees, Plan Complexity and Participant Success Measures.
Fiduciary Benchmarks is producing reports for all market segments under $100 million, representing about 98% of all 401(k) plans in America. In addition, Fiduciary Benchmarks expects to produce reports for market segments above $100 million within the next 60 days, the company said.
The company has put in place working protocols Fiduciary Benchmarks has developed with 35 recordkeepers to facilitate getting plan data.
“The Fiduciary Benchmarks report contains a level of actionable intelligence that truly helps a fiduciary understand the fees for their plan — in total, by service provider and by investment option,” said Tom Kmak, CEO of Fiduciary Benchmarks, in the announcement.
More information is available at www.fiduciarybenchmarks.com.