Products

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.
Reported by Fred Schneyer

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.

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.