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401K Asset Based Fee
Posted on 9/14/18 at 9:28 pm
Posted on 9/14/18 at 9:28 pm
Is 1.02% annually normal? It seems terribly high to me, but I haven’t looked at a ton of 401K plans. Average expense ratios are fairly low .10-.60% or so.
4
Posted on 9/15/18 at 6:54 am to Ingloriousbastard
For a small plan yes. That fee should drop the larger the plan grows.
Posted on 9/16/18 at 10:45 am to Ingloriousbastard
102 basis points is on the higher end. Definitely not the highest but you can find better, IMO.
Posted on 9/16/18 at 8:50 pm to Ingloriousbastard
If the plan is under 1 million that fee is not that bad or if it’s under about 2 million and participants get fiduciary advice (like from an RIA) it’s still not to bad. Any plan balances higher than that I would say it’s too high. If the plan is over 5 million it’s a total rip off.
Posted on 9/17/18 at 12:48 pm to Ingloriousbastard
Most of the responses above are accurate, but I would add one other qualifier -
If the average balance per participant is pretty low, even if you have a decent sized plan the fees can still be decently high. That usually the case in a high turnover, low income type setting ( a restaurant group, etc).
If the average balance per participant is pretty low, even if you have a decent sized plan the fees can still be decently high. That usually the case in a high turnover, low income type setting ( a restaurant group, etc).
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