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To be clear, the Department of Labor never states that Plan Fees be the lowest cost. But they do make it clear that plan fees need to be reasonable.
Unfortunately, the fees of retirement plans can be "sliced and diced "in so many ways it's hard to know what your plan is truly costing. One of the best ways to truly understand your fees is to have your company's retirement plan benchmarked and reviewed by a third party (that is, not your current provider). Part of our benchmarking process is a total cost analysis.
Some thoughts on Total Cost Analysis include: