As a business owner, you want to keep and attract the best people for your company. One way to do this is to offer your employees a quality retirement plan. But how do you determine what retirement plan to go with? And as the fiduciary for that plan, how do you know you and your employees are paying reasonable fees and expenses relative to the value received from the plan?

According to the U.S. Department of Labor’s Employee Retirement Income Security Act (ERISA), you are responsible as your company’s fiduciary to act prudently and solely in the interest of your employees and their beneficiaries when managing a plan. This includes ensuring that service provider fees are “reasonable.” In order to do this, you must evaluate all the information in the plan regarding fees to make sure you are not overpaying for the services you are getting.

Even if you’ve enjoyed a high income and accumulated substantial assets during your working years, your financial future may not be secure after you retire. A haphazard approach to managing your investment portfolio can leave you broke.

Are you responsible for managing your company’s transition to a new employee 401(k) plan provider? Is this project filling you with dread and keeping you up at night?

Poorly managing your employee 401(k) plan directly threatens your company’s bottom line.

No employer wants to see anyone on their team retire without enough funds to live with dignity. Unfortunately, most Americans are not saving enough for retirement. In fact, "the mean American over the age of 65 can count on about $8,400 [each year] from his or her 401(k)," The Motley Fool reports.