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You Make the Call !

by Martin Suechting in Benefit Plans

Back in the late '80s and early '90s IBM and others sponsored ads in NFL games called 'You Make the Call'. The idea was to show you a clip from a controversial play, and then the announcer would demand 'You Make the Call'. After that came the ad, then a recap and the 'right' answer to whatever the infraction was. They no longer run those ads in NFL games, but some ideas never die.

 Part of an ERISA fiduciary's responsibility is to determine if the fees paid for services rendered to a plan are 'reasonable'. We recently looked at two 401(k) retirement plans each having about $16.5 million in assets, although the participant counts were different - about 130 participants in one plan, and 400 in the other. Each of the plan sponsors thought they were paying 'reasonable' fees, but as we found out in the course of our study, the fees each plan paid were significantly different.

 Are the fees reasonable? You make the call!

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