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Products May 6, 2008
VA Firm Offers ERISA Fee Compliance Kit
May 6, 2008 (PLANSPONSOR.com) - A Richmond, Virginia
company is offering a "fee compliance kit" to help employers
make sure their 401(k) fee structure would meet Employee
Retirement Income Security Act standards.
Reported by Fred Schneyer
A news release from Wealthcare Capital Management said the kit includes a cover letter requesting fee disclosure from the plan’s current 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. The announcement said once a participant requests this service, the employer is contacted and encouraged to utilize a custom kit, also provided at no charge, which provides a way to help employers discover and compare costs associated with their plan.
More information about the plan sponsor service is at http://www.401kripoff.com/plansponsors.htm . Details about the participant service is at http://www.401kripoff.com/planparticipants.htm .