Victory Capital Releases Plan Fee Resource Guide
CLEVELAND, OH, July 13, 2010 -- Victory Capital Management has launched the latest in a series of educational guides aimed at helping the industry get a better handle on challenges pertaining to retirement and mutual funds.
The latest, "Retirement Plan Fees Resource Guide" helps plan sponsors, advisors and investment consultants better understand plan fees and how the dollars flow between investment managers, plan providers and participants.
"We think it's important that everyone involved in the retirement planning process understand the fees associated with qualified retirement plans," said John Kutz, managing director and retirement plan services manager, Victory Capital Management. "This guide will improve reader's understanding of retirement plan fees and trends in legislation, regulation and litigation."
The guide covers six key components in the retirement fee process:
- Trends, challenges and litigation.
- Cost components and comparisons.
- Plan objectives and revenue sharing.
- Benchmarking and how to determine whether fees are reasonable.
- How to manage costs and improve communications.
- Looking ahead to future regulation.
Mr. Kutz also notes that plan sponsors must protect themselves and their participants from unreasonable expenses. For example, sometimes changing share classes or investment vehicles can mean significant savings with minimal effort, while switching to a less expensive source for recordkeeping can be disruptive and yield only marginal savings.
The other two guides, "The Collective Trust Fund Resource Guide" and "Five Steps to Safeguarding Your Company's Retirement Plan" were the first two guides in this recent series.
The Collective Trust Fund Resource Guide helps plan sponsors decide if a CTF is a good choice for their plan and looks at five key components: (1) what is a collective trust fund (2) cost advantages and comparisons (3) choosing between collective trust funds and mutual funds (4) evaluating CTF providers and (5) rules and regulations.
"Collective trust funds are a fast growing vehicle in defined contribution retirement plans, especially in the large market plan area" says Mr. Kutz. "Even though these funds have been around for decades we continue to see a surge in popularity so we wanted to help educate plan sponsors and answer questions regarding the product."
The Five Steps to Safeguarding Your Company's Retirement Plan was created to help plan sponsors administer and manage their plans more effectively and to help them cope with the complexities of retirement plans. This guide centers on five key areas including (1) how to build a solid foundation (2) how to conduct an effective annual plan review (3) advice on how participants can better make informed choices (4) how to manage service provider relationships and (5) understanding government regulations.
About Victory Capital Management
Victory Capital Management Inc. is an established investment management firm with a distinguished 100-year heritage. As of May 31, 2010, Victory manages more than $43.7 billion in investment portfolios including the KeyBank N.A Collective Trust Funds, a family of 11 collective funds. Headquartered in Cleveland with operating divisions in New York and Cincinnati, Victory serves clients in almost every U.S. state and many foreign countries. Victory's distinguished client list includes national, regional and independent broker dealers, retirement plan providers, corporations, Taft-Hartley plans, public sector entities, and endowments and foundations.
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