In another week (or so), PLANSPONSOR will publish its annual Defined Contribution Survey.
According to a new survey, nearly one in 10 plan sponsors still believes that they pay no fees for their retirement plan.
Nearly one-fourth of plan sponsors surveyed by Mercer express a lack of confidence that fees associated with their 401(k) plans have been properly disclosed.
The majority of retirement plan expenses are paid by the plan sponsor, but many plan sponsors do not review the fees paid to their adviser, a recent survey said.
More than eight in ten (83%) 401(k) participants acknowledged they actually do not know how much they pay in fees and expenses associated with their plan.
Don’t assume your clients are comfortable with fees just because they don’t say anything.
Fee-based practices are growing, with 46% of advisers adopting that pricing structure, an increase of 35% over the past five years.
At a time when many in the retirement services community and some influential lawmakers are up in arms over fees paid by 401(k) participants, the Investment Company Institute (ICI) has insisted in a new report the fees are not that high and participants are getting their money's worth.