Fee for providing a panoply of services including determination of eligibility, Discrimination Testing, documentation updates, trust accounting, forms preparation and preparation of participant benefit statements. Oftentimes these services may be provided by more than one service provider. Fee charged to provide for the distribution of plan proceeds as annuitized benefit payments. This should not be confused with an IRS or DOL audit. Arrangement involving a series of payments made regularly over a specified time period.
Vendors can also require surrender charges for an individual participant transfer or termination.
Sales charges due upon the sale or transfer of stock, mutual funds or other investments. Fee that may be charged each time a participant inquires about his or her respective plan balance. The individual or entity which is named to receive compensation from the provider as a finder of for executing investment transactions. This is to be distinguished from receiving compensation for rendering investment advice. A fee paid to a broker or other intermediary for executing a trade.