“Even as 401(k) fees continue to decline the industry saw new fee litigation cases explode in 2020. This may be why many studies are showing a majority of employers are looking to review/benchmark their plan fees in 2021),” said Joseph W. Valletta author of the 401k Averages Book.
BALTIMORE (PRWEB)
March 11, 2021
The new release of the 401k Averages Book 21st Edition shows the average total plan cost for a small retirement plan (100 participants/$5,000,000 assets) declined from 1.23% to 1.20% over the past year, while the average total plan cost for a large retirement plan (1,000 participants/$50,000,000 assets) declined from 0.91% to 0.90%.
“Even as 401(k) fees continue to decline the industry saw new fee litigation cases explode in 2020. This may be why many studies are showing a majority of employers are looking to review/benchmark their plan fees in 2021, while others are considering vehicles such as Pooled Employer Plans (PEPs),” said Joseph W. Valletta author of the 401k Averages Book. “Fee benchmarking is an important piece of the 401k governance process and the Averages Book is designed to help employers and their advisors with this step.”
Key Findings:
Infographics Included in the Book:
The 401k Averages Book includes three easy to read infographics illustrating small plan costs. Each infographic shows the 5-year trend of total plan costs, range of per participant costs and other key data points.
About 401k Averages Book
Published since 1995, the 401k Averages Book (http://www.401ksource.com) is the only resource book available for non-biased, comparative 401(k) average cost information. It’s designed to provide financial professionals with essential 401(k) cost information needed to determine if their 401(k) plan costs are above or below average. The 21st Edition of the 401k Averages Book is available for $95 and can be purchased by calling (888) 401-3089 or online at http://www.401ksource.com.
This content was originally published here.