A retirement plan can receive a clean audit opinion even if it embeds hidden compensation, shifts costs onto participants, and includes conflicted provider relationships.

Here’s why.

When a firm with an employee compensation and benefits practice runs a plan where fees grew as participants disappeared, it reveals something important about how the 401(k) system actually works.

Very few people are actually reviewing the details of individual retirement plans. That’s why I focus so much of my time and energy on Form 5500 filings

Employers should pay retirement plan fees instead of pulling them from participant accounts.