Multiemployer Plans

[Guest Harry Lutz]

I have a client (board of trustees of a multiemployer savings/401(k) plan) who is wanting to move into participant-directed accounts. Assuming the investment choices are mutual funds, I'm looking for ways of providing for operating expenses, since the only expenses paid from investment income of the funds are their own internal expenses, and there is no employer sponsor to step up to the plate and cover the expenses?

[Guest Gaylord]

Harry,

What is the asset size and number of participants?

[Guest Harry Lutz]

This plan has 1350 participants and $6 million in assets.