Fees for pension consulting services are negotiated on a case-by-case basis, depending on the plan size, scope, and complexity of services. The fees are typically based on a percentage of plan assets, but fixed fee arrangements may be available. The maximum annual fee is tiered: 1.00% on the first $1,000,000, 0.80% on $1,000,001 - $2,500,000, 0.60% on $2,500,001 - $5,000,000, 0.40% on $5,000,001 - $7,500,000, 0.30% on $7,500,001 - $10,000,000, and 0.25% over $10,000,000. Fees are deducted quarterly in arrears unless otherwise agreed. The agreement can be terminated with 30 days written notice, with a pro-rata charge for services rendered.