A good article appeared in AOL’s Wallet Pop website regarding four signs that your 401(k) plan is being managed. With a quote by Mike Alfred at Brightscope.com, the articles listed the plan charges high annual fees; the plan has major gaps in investment options; the Plan features only one family of funds; and the Plan is an insurance-based Plan.
For me, it’s hard to stop at four just like Lay’s Potato chips claimed you couldn’t eat just one chip. Some additional signs that your plan is being mismanaged include plan not having a financial advisor; participants not getting any investment education on a participant directed plan; and too many directed investment options. That’s just a few in my mind.