Firm Offers ERISA Fee Compliance Kit

Wealthcare Capital Management offers a “fee compliance kit” to help employers ensure that their 401(k) fee structure would meet Employee Retirement Income Security Act (ERISA) standards.

A news release from the Richmond, Virginia-based company said the kit includes a cover letter requesting fee disclosure from the plan’s vendor, a blank Department of Labor (DoL) standardized form for the vendor to complete, and a custom competitive fee analysis provided in a DoL standardized format.

The company also offers a service to participants in which the company gets employers to act on the fee issue without triggering government involvement. Once a participant requests this service, the employer is contacted and encouraged to utilize a custom kit—also provided at no charge— which aims to help employers discover and compare costs associated with their plan.

For more stories like this, sign up for the PLANADVISERdash daily newsletter.

More information about the participant service can be found at http://www.401kripoff.com/planparticipants.htm.

More information about the plan sponsor service can be found at http://www.401kripoff.com/plansponsors.htm.

«