If you participate in the BMC 401(k) Plan, you pay fees to cover investment management, administrative and operating expenses. Every 401(k) plan has an administrator to keep track of balances, contributions and withdrawals. And all mutual funds charge annual expenses to cover the fund’s operating costs.
Fidelity Investments, the BMC 401(k) Plan administrator, sent Plan participants an email in March announcing changes to the Plan, including the move to a more transparent approach to charging fees. Minimizing the fees and expenses you pay to the 401(k) Plan may help you increase your retirement nest egg—so be informed and review your options carefully.
Get Started
Read this overview from Fidelity to better understand 401(k) fees and expenses. The overview includes ways you can stay informed about fees, such as viewing your plan account statement any time by logging on to the Fidelity NetBenefits website.
See the detailed change notice from Fidelity.
Useful Links
Understanding 401(k) Fees and Expenses, a quick read from the American Institute of CPAs.
Maximize Your Retirement Savings – The Department of Labor offers tips on using the fee and investment information from your 401(k).
MyBMC Rewards provides a snapshot of your pay, retirement benefits, health and insurance benefits and corporate programs. Visit MyBMC Rewards to:
Go online anytime or call 877-262-4849. Representatives are available from Monday through Friday, 8 a.m. to 9 p.m., Eastern time.
From enrollment reminders to important 401(k) information and benefits updates, you can be the first to know when your attention or action is required.
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