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Products October 3, 2007
Portland Company to Provide DC Plan Fee Benchmarks
The former CEO of JPMorgan Retirement Plan Services has teamed up with two other partners to form a company that provides benchmarking services for defined contribution plan sponsors with plans of any size.
Reported by Adrien Martin
Fiduciary Benchmarks, Inc. is meant to help plan sponsors understand how their plan costs compare to the value they are getting from service providers, according to a press release.
The founding partners of the Portland -based company include Tom Kmak, former CEO of JPMorgan Retirement Plan Services, Ron Eisen, President of Investment Management Consultants (IMC), and Olena Berg Lacy, former Assistant Secretary of Labor and currently Director and Senior Adviser for Financial Engines.
“Every single plan sponsor I know understands the intense amount of scrutiny this issue is receiving in the press, the courts and Washington,” Kmak said in a press release. “As this industry continues to evolve, plans sponsors, participants and service providers will be well served by having an objective and independent expert provide them the information they need to make important decisions.”
IMC Director Matt Golda and IMC Principal David Bodmer will also be a part of the company, according to the announcement.