As a 401(k) plan sponsor, your fiduciary responsibilities require you to take a series of critical steps. ADP^® can help you make sure you’ve covered the necessary bases.

During your complimentary Due Diligence Review, an ADP Retirement Services District Manager will:

• Review your due-diligence process and present possible action items that can help you fulfill your fiduciary role.
• Identify potential disclosure issues that may require special attention and assistance.
• Evaluate your costs and help you compare your current plan fees with those of an ADP ACCESS^® plan.

Reviewing plan fees is especially important because even a slight percentage difference can have a significant impact. The chart below compares two plans with a starting balance of $1.5 million. "Plan A" pays 1.25% in fees and expenses, while "Plan B" pays 2%.

Over a 35-year period with this 0.75% difference, “Plan B” pays out $2.3 million more in fees and expenses. Assuming 50 plan participants, that comes to $46,000 per person. Might you be one of them?

The ADP^® Fiduciary Checklist includes 16 potential steps for plan sponsors to consider. Your ADP retirement specialist will review these steps with you and help you determine which ones, if any, you still need to perform.