Selecting competent service providers is one of the most important fiduciary duties of a 401(k) plan sponsor – and it can appear daunting at first glance.
Fortunately, this process can be made much simpler by understanding each service that makes up a 401(k) plan and applying appropriate benchmarks to those services to measure their value. Once you've done that, you're ready to pick 401(k) providers based on the value of their services.
Commodity vs. Value-Added Services
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