The 401 on Fee Benchmarking and Retirement Readiness

with Tom Kmak

Sponsored By:

Recently, there have been two issues that are at the forefront of many discussions in the retirement industry: litigation around fee reasonableness and the retirement readiness of participants. 

With respect to litigation around fee reasonableness, please note that since 2009 almost $1 BILLION dollars in settlements have been paid by plan sponsors or service providers related to this issue. 

During this session, the leading benchmarking service in the industry will help you understand how turning a 1 variable equation into a 4 variable equation will provide better protection for you and your participants while at the same time making sure the fees you are paying are reasonable to your service providers. 

With respect to the retirement readiness of participants, the last five years has seen the number of plan sponsors worried about retirement readiness rise from 9% to 85%.  Therefore, the second part of this session will include a detailed analysis of how to improve retirement readiness from a Saving, Investing and Spending standpoint.  The presentation will include techniques to use to improve such behavior as well as the proper metrics that should be examined from a plan sponsor and participant standpoint.

About Our Speaker

Tom Kmak is CEO and co-founder of Fiduciary Benchmarks (FBi), which provides benchmarking of fees and services for defined contribution plans through advisors/consultants, recordkeepers and and other plan service providers.

Prior to founding FBi in October 2007, Tom was CEO of JPMorgan Retirement Plan Services.  Tom started that business in 1990 and when he left 18 years later it employed 1,100 people, serving 200 large plan sponsors with over 1.5 million participants and over $115 billion in assets. During his tenure of leadership, the company initiated numerous industry firsts, including no blackout conversions and the innovative employee education program called Audience of One. He also served on the Executive Committee for JPMorgan’s asset management business.

Free parking available in the parking garage immediately adjacent to the Chinook Tavern. In addition, Chinook Tavern is conveniently located just off the Arapahoe light rail stop in Greenwood Village.