ERISA Disclaimer

Last updated: July 2026

Not Legal or Fiduciary Advice

FEEDUCIARY LLC is not a law firm, registered investment adviser, or ERISA fiduciary. The benchmarking reports, data, articles, and other content provided through our platform are for general informational purposes only and do not create any attorney-client, investment advisory, or fiduciary relationship between FEEDUCIARY LLC and any user.

Plan sponsors and fiduciaries should consult with qualified ERISA counsel and independent financial advisors before making any decisions regarding their retirement plan fees, service providers, or related matters.

Benchmark Data Limitations

The benchmark data provided by FEEDUCIARY — our AAB v2 (Average Account Balance) model — is compiled from published, third-party industry sources. These include approximately 20 recordkeeper pricing disclosures and rate cards (such as Guideline, Employee Fiduciary, Vestwell, Fidelity, Empower, and TIAA); the 401(k) Averages Book, 24th Edition (2024); the ICI/BrightScope Defined Contribution Plan Profile (2024); the Deloitte/ICI Defined Contribution Benchmarking Survey; the Encore Fiduciary large-plan recordkeeping study; and NEPC and Callan industry surveys. Typical average account balances by plan size are informed by U.S. Department of Labor Form 5500 aggregate data.

This benchmark data is a point-in-time synthesis of the sources above — not a live data feed and not a database of individual plan filings — and certain plan-size tiers are interpolated between adjacent tiers. It may not reflect current market conditions, regional variations, plan-specific features, or other factors that may affect the reasonableness of fees for a specific plan. Benchmark reports are generated from the figures you enter and are not independently verified by FEEDUCIARY.

A favorable benchmark result (fees below market) does not guarantee that your plan fees are "reasonable" under ERISA. An unfavorable result (fees above market) does not necessarily mean your fees are unreasonable. The determination of whether fees are reasonable under ERISA requires consideration of the specific services provided and their value to the plan, among other factors.

No Guarantee of Accuracy

While we make reasonable efforts to ensure the accuracy of our benchmark data, FEEDUCIARY LLC makes no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability of the information, products, services, or related graphics contained on the platform for any purpose.

Fiduciary Documentation

A FEEDUCIARY benchmark report may be used as one component of a broader fee review process for fiduciary documentation purposes. However, it should not be the sole basis for your fee reasonableness determination. ERISA requires plan fiduciaries to engage in a prudent process for reviewing fees, which typically includes obtaining and reviewing service provider disclosures, comparing fees to alternatives, and documenting the review process.

Consult Qualified Professionals

We strongly recommend that plan sponsors and fiduciaries:

• Work with an ERISA attorney for plan-specific legal guidance
• Engage an independent fiduciary advisor or investment consultant
• Conduct periodic formal RFP (Request for Proposal) processes
• Document all fee review activities in plan fiduciary records
• Review service provider disclosures (408(b)(2)) annually

Limitation of Liability

In no event shall FEEDUCIARY LLC be liable for any indirect, incidental, special, consequential, or punitive damages arising out of or related to your use of our platform or reliance on any information provided, even if FEEDUCIARY LLC has been advised of the possibility of such damages.

For questions about this disclaimer, contact us at help@401kfeeduciary.com