Analyze the Pricing of a Plan
w/Fee CheckerThe Challenge: Best practices are important to me, and this year my plan is due for a more comprehensive fee review - including assessing how plan complexity, services, and participant outcomes directly contribute to determining if its fees are reasonable.
Our Solution: FDI's Value and Fee is a comprehensive report that considers the quality, service, value and extras received by a plan when benchmarking its fees and those of its primary service providers.
Key Benefits:
- Supports client retention and reasonable yet sustainable fee levels
- Ensures fees are considered in the context of what is received and achieved
- Addresses fiduciary obligation to assess fee reasonableness
- Includes a value oriented review of relative plan investment costs
Key Features:
- Provides complete fee breakdown showing all sources (fund expense ratios, recordkeeper fees, advisor fees) and how fees are paid (by participants, plan sponsor, or investments), ensuring full fee model visibility.
- Separately analyzes and benchmarks recordkeeper fees, investment fees, and advisor fees against relevant peer groups with percentile rankings (25th, 50th, 75th).
- Includes a summary page for each Plan Service Provider their Quality, Service, Value and Extras in support of assessing fee reasonableness
- Includes weighted performance charts for both "Help" options (target date, lifecycle funds) and "Core" options with excess performance calculations versus Morningstar category performance benchmarks
- Includes details on plan complexity, plan processing, plan service score and participant outcomes that support each providers Summary page.
Fee Benchmark Report to Use by Plan Size ($)
| FDI Benchmark Report | $0-2m | $2-20m | $20-100m | > $100m |
|---|---|---|---|---|
| Value and Fee |  |
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| Fee Monitor^ | |
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^ Consider Value & Fee if above average fees/services or if extra services provided
Fee Benchmark Report Report Frequency by Plan Size ($)
| Component Benchmarked | Every Year | Every 2 Years | Every 3 Years | Every 4 years |
|---|---|---|---|---|
| Investments | All Plans | — | — | — |
| Service Providers | Plans > $100m | Plans $20-100m | Plans $2-20m | Plans $0-2m |
**More Frequently if key event occurs or enhanced oversight is needed
Other Key Events When a Fee/Service Benchmark Report Makes Sense
| Changes in Plan Size | Plan Service Providers | Changes in Plan Fees/Services | Changes in Plan Decision Makers |
|---|---|---|---|
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Watch this step-by-step demonstration to learn how to access and use the Fee Checker tool. The video walks through the complete process from login to generating your pricing analysis report.
Samples
Presentation Resources
Presentation Resources do not apply to this FDI solution.
Q: How do you quantify and measure "quality, service, and value" objectively?
A: To be completed
Q: What data do you need from our service providers and how long does the process take?
A: To be completed.
Q: How does this differ from the Fee Monitor report and when should we use each one?
A: To be completed.