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Fiduciary Responsibilities: An Overview for Retirement Plan Sponsors
Fiduciary Plan Governance, LLC
May 26, 2016
"As a plan sponsor, you should regularly receive fee disclosures that include the following information: [1] A description of the services provided; [2] The status of the service provider as an ERISA fiduciary; [3] A clear statement of compensation and fees; [4] Termination charges, if any. They should become part of your permanent due diligence file after you've reviewed them to make sure they're complete and accurate. If you aren't getting them, ask. It's up to you to make sure you have the information you need."
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