If you are a plan sponsor in the process of considering retirement plan providers we have resources for you.  If you are struggling to compare Apples to Apples please click here.

For a page dedicated to the most Frequently Asked Questions we get from Plan sponsors click here. You may find that your question has already been answered. 


As a Retirement Plan Sponsor there is so much you need to know in order to be in compliance with the rules enacted by ERISA (Employee Retirement Income Security Act of 1974).

These rules were put in place to protect the worker and will protect you as the plan sponsor if followed properly.  Unfortunately, these rules often change with legislation; making your role as Plan Sponsor even more demanding and many times delegated to someone else.  There have been many changes in recent years, including the Pension Protection Act of 2006.    


One of the most pressing issues today is the costs associated with Retirement Plans.  “Class actions (law suits) have been filed against a number of large 401(k) plan sponsors; the apparent failure of the plan sponsors to properly monitor fees and expenses being the primary basis for the suits"¹ As a Plan Sponsor you need to know what those fees are, who is paying them, AND if they are reasonable as defined by the Department of Labor.  If you do not know the answer to those questions, you need to find out.  If you say the plan is FREE, you're wrong.  There is a cost to do business and that is what has come under the microscope recently.  Michelle Ogden & Company LLC is the adviser of record on numerous Employer Sponsored Retirement plans & also does confidential consulting on a flat fee basis.  Michelle Ogden & Company LLC is NOT in the business of taking Good Retirement Plans away from Good Financial Professionals.  We are in the Business of Educating Plan Sponsors of their Fiduciary Responsibility.
 

Beginning in 2008 Plan Sponsors may have to disclose on their form 5500 the unseen expenses of their Retirement Plans.  This is the portion of the plan paid by the participants in lieu of higher returns on their investments.

If you have not reviewed your Employer Sponsored Retirement plan within the last 12 months we would encourage you to do so.  One of the easiest ways to compare your existing plan is to request quotes from other providers.  The Department of Labor has a nice fee disclosure form that helps Plan Sponsors to compare retirement plans.  When interviewing plan advisers you will need to know the adviser's up front compensation and all ongoing compensation.  If they do not come right out and tell you their compensation, just ASK.  You will need to know this information in order to compare apples to apples.  And just so you know, the advisers compensation is normally negotiable.

If you would like a Confidential Review of your Company Retirement Plan, Please give us a call at 407-645-1639 or email us by clicking here.