Many times the fee disclosures come in the form of lengthy documents or the information is spread out over multiple documents.

Dozens of residents and organizations turned up at a Connecticut Senate committee hearing today to voice their support for a proposal that would set up a state-run retirement plan open to all Connecticut residents and businesses.

The summary states that the initiative eliminates constitutional protections for vested pension and retiree health care benefits for current public employees, including teachers, nurses, and peace officers, for future work performed.

Plan sponsors are turning to the RFP process when hiring retirement plan advisors or benchmarking an existing advisors services and fees.

The three finalists are Alliance Benefit Group Financial Services, Corp. represented by Bradley Arends; Compass Financial Partners, represented by Kathleen Kelly; and Maresh Yoshida 401(k) Group, represented by T. Henry Yoshida.

With interest rates at their lowest point in years and the volatility in the stock market, it has become nearly impossible to predict whether most retirement accounts will earn enough to fund a 4 percent withdrawal rate.

Many banks are looking to fee-based businesses like wealth management to help them develop new revenue streams.

The shift from DB to DC also has increased financial vulnerabilities for some of these same groups because DC plans offer fewer spousal protections.