Total investment costs for 401(k) plans declined by an average of 0.03% in 2021, according to the latest 401k Averages Book, which publishes data on plans.
Fees at large retirement plans, those with 1,000 or more participants and $50 million or more in assets, declined from 0.90% to 0.88% over the past year and are down from 0.95% in 2017. Fees on small retirement plan (those with 100 or fewer participants and $5 million or less in assets), declined from 1.20% to 1.19% in 2021 and are down from 1.25% in 2017.
“This decline in investment-related fees paid by participants will help boost retirement savings over the years,” Joseph W. Valletta, the book's author, said in a statement.
The book finds that not only are small plans more expensive than large plans, but costs also vary more widely for small plans. A plan that has $1 million in assets and 1,000 participants could see costs ranging all the way from 0.72% to 2.69%, according to the 401(k) Averages Book.
Wealth Consulting Group, Coastline and Maridea report fresh capital, acquisitions and asset growth as advisor M&A keeps climbing
Carson Group's Dani Fava, Jason Pereira of Woodgate Financial, and Sally George of Convergency Partners led the raise as the growth-tech startup builds out its AI platform and leadership bench.
New teams from William Blair, Ameriprise and UBS bring more than $560 million in combined client assets to the firm's employee and independent channels.
Regulators this year approved UBS Bank USA’s conversion to a nationally chartered bank.
How a subprime lender’s car-loan bonds allegedly unraveled before bankruptcy.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
