When the Department of Labor required plan sponsors to understand what financial fees they're paying and make fee disclosure information clearer to plan participants, many groups expected a flood of questions and a stampede of assets from expensive plans to cheaper ones. However, advisors, TPAs and plan sponsors agree: For participants it was a non-event.
"We have to go through all these extra hoops, but how many are paying attention?" asks Brian Smith, director of sales and consulting at the Tegrit Group in Columbus, Ohio. "We thought there would be a storm of people firing providers for high fees, and nothing's happened."
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
