Benefits Consultant Group

Watch out plan sponsors, they just hit me with a $2,000 fee for moving my plan to another provider (reason being BCG fees are high compared with other providers among other things). Fee amount is not spelled out in your initial paperwork with them, just a vague statement saying you agree to pay all fees associated with your plan. In other words, they get to make the termination fee whatever they want when you leave. Yeah so now I get to pay them $2,000 to terminate along the with $3,250 I pay per year in regular fees. Seems exorbitant when compared to the fee to run the plan for a whole year.