Benchmarking your 401(k) plan can provide a clear understanding as to what you are truly offering your employees and what other options there may be out there. Outside of it being a key component of doing a fiduciary compliance review and places your organization on the road to fiduciary diligence. This helps identify weaknesses that can be corrected and addresses important fiduciary liability issues.
The Department of Labor is looking to make sure you are fulfilling your fiduciary responsibilities. As an independent firm and working as a fiduciary on your plan, Pangea will benchmark your group retirement plan and provide support to help you evaluate the platform, the fees, and the services being offered to you and your employees.