I have always liked New Year's resolutions. They are a great excuse for ending bad behaviors or starting good ones.  Here's one for all small business 401(k) sponsors: "I will evaluate my plan fees for reasonableness." 

Let me explain why …

ERISA requires 401(k) sponsors, and any other fiduciary, to ensure that the services provided to their plan are necessary and that contracts or arrangements for services, and the cost of those services, are reasonable. Failure to do so can result in personal liability for the responsible fiduciary.

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