Guardian Retirement Solutions has gotten on the 401(k) feedisclosure bandwagon with a new site offering information toboth plan sponsors and participants, timely as the first wave offee disclosure regulations went into effect on theweekend.
|The new UnderstandingPlan Fees site has been designed to help participants andsponsors understand their retirement plan fees, the services theypay for and the value the different service providers bring tothe table.
|The site is also open to the public, as well as advisors andretirement planners working for any company.
|"Simply providing a statement without any explanation hasthe potential to confuse and frustrate planparticipants," said Jason Frain, vice president of 401(k)product managment and development, with Guardian's retirementdivision.
|"At the end of the day, it's important for sponsors andparticipants to understand who is working on their behalf to ensurethey have a tax-deferred benefit to save for retirement."
|Tools and educational resources included as part of the siteinclude:
- High-level information on the new fee disclosure rules
- Descriptions of the various service providers andspecialists associated with the administration of 401(k) plans andwhat they do.
- Interactive annotated statements and comparative charts to helpparticipants understand and better comprehend the information theywill receive
- Definitions of key terms plan sponsors and participants willneed to know.
- General retirement planning education and tips.
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