Reasonable Compensation Guidance

Please share any DOL guidance or opinion letters you may have come across that address the issue of determining whether compensation paid to an investment manager hired for the sole purpose of managing a plan's assets is reasonable compensation under 2550-408c-2(b)(1) - (b)(4).  Investment manager is a fiduciary. 

Not my area of expertise, but it's possible you can get some value by searching this forum:  

https://benefitslink.com/boards/forum/68-investment-issues-including-self-directed/

You are not going to get any specific authority as the determination of "reasonable compensation" is based on ALL the facts and circumstances surrounding the specific inquiry.   You may find a few court cases holding whether the payments in those cases were reasonable but unless your set of facts line up exactly with the facts of those specific cases, they likely would not provide sufficient authority for whatever you are trying to determine.  For instances, there are several recent excessive fee cases that have been dismissed because the plaintiffs merely alleged that the service providers in their cases were paid more than other providers providing similar services because the court stated that they didn't show how the services in their cases were the same as the services provided in the cases cited.