Key questions
8 Key Questions Every 401(k) Plan Sponsor Should Be Asking.
Is your retirement plan aligned with current best practices? Each question has a quick answer and a way to get help.
Stronger plans. Brighter futures.
- 1Are plan fees competitive?
- 2Are forfeitures being used effectively?
- 3Are terminated participant balances being managed?
- 4Is your investment lineup supporting participant success?
- 5Is your plan meeting fiduciary standards?
- 6Is your plan design aligned with your goals?
- 7Are you helping employees prepare for retirement?
- 8Is it time for a plan review?
Fees are the one plan cost you can benchmark, negotiate, and document.
Recordkeeping, administration, investment, and advisory fees should be measured against plans of similar size every three years or so. Fees have dropped across the industry, and a plan that has not been re-benchmarked is often paying more than it needs to. A dated benchmark file is also your best evidence that you monitored costs prudently.
3 yrs
a common re-benchmark interval
- Compare all-in cost to plans your size
- Spot share classes and revenue sharing that raise cost
- Negotiate with your current provider or run an RFP
- Keep a dated benchmark record in your fiduciary file
Retirement readiness
Are your employees saving enough?
Many employees underestimate what they'll need. Try this lightweight check — benchmarked against the Fidelity age-based savings guidelines — then see how plan design can close the gap.
Are your employees saving enough?
A quick readiness check — adjust the inputs to see where things land.
Projected savings at 67
$399,352
≈ $15,974/yr in retirement income (4% rule) · 4.6× salary vs. a 10× Fidelity target
Your projected savings fall short of the Fidelity benchmark. Plan-design changes — auto-escalation, match optimization, or catch-up strategies — could make a meaningful difference.
Estimate only · assumes ~4.5% average annual real return. Not investment advice.
Want help with any of these?
Let's turn these questions into a stronger plan.
Pick any question above for a callback, or book 30 minutes with Bonnie to walk through your whole plan.
