Whether it's peer pressure or a desire to "do the right thing," a year after the Department of Labor passed fee disclosure regulations for both defined contribution plan providers and plan sponsors, the industry's fees are dropping.
Gone are the days when a plan could charge 2 percent or even 2.5 percent in fees. The average today is somewhere between 1 percent and 2 percent.
Chad Parks, founder and CEO of The Online 401(k), thinks fees should drop even farther. "It is egregious," he said.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
