The new offering, 401(k) Effectiveness Analysis, provides insight into investment design and participant behavior to determine the degree to which a plan is helping or hurting participants, according to a company news release.
It also includes a total cost study that makes costs transparent to employers, giving them the power to decide whether they and their participants are paying fair fees in relation to their plan size.
“Many plan sponsors don’t know their true total costs, or who is capturing that revenue,” said Greg Patterson, CEO and a senior consultant at The Advisory Group, in the news release. “This is especially true for plans using the big brand name 401(k) providers that often have hidden costs that neither employers nor their participant employees have the time to weed out or optimize.”
According to the news release, the company’s lineup of 401(k) services includes a vendor search function.
The Advisory Group ( www.advisorygroupsf.com ) provides guidance and resources for the management of investment decisions and fiduciary responsibility, according to the company.
« ADP Background Checks Up 20% in 2006