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Understanding Retirement Plan Fees and Expenses

ERISA (the Employee Retirement Income Security Act), the federal law governing private-sector retirement plans, requires those responsible for managing retirement plans to carry out their responsibilities prudently and solely in the interest of the plan’s participants and beneficiaries. Called “fiduciaries,” these individuals also have a responsibility to ensure that the services provided to their plan are necessary and their cost is reasonable. [August 2012, 793 word article]


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