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.
Meanwhile, Orion's former COO and wealth division president has emerged to become CEO of wealth technology consultancy firm F2 strategy.
The firm said in May that current leader Paul Reilly would be stepping down.
Firm says automated tool aims to solve a gap in the marketplace.
Beverly Hills firm serves clients including those in entertainment industry.
Paul Atkins replacing Gary Gensler is seen as a win for cryptos.
"Synth Equity has been such a tailwind for these advisors who really understand the story," Measured Risk Portfolios’ head of distribution said.
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