Compare your Provider’s 401k Fees to Employee Fiduciary Fees
At Employee Fiduciary, we believe small business 401k plans should have access to retirement plans that offer the same low prices, investment choices and quality service as plans sponsored by our country’s largest corporations.
Too many small business 401ks pay excessive fees to plan service providers. The irony? Most plan sponsors – with a fiduciary responsibility to keep plan fees low – don’t know how much their 401k plan costs at all. Exacerbating this problem is the “hidden” compensation” paid to some 401k providers – particularly insurance and payroll companies – by mutual fund companies.
To help 401k fiduciaries understand their 401k plan fees, Employee Fiduciary launched a fee comparison service in 2014. Our service totals all of the compensation a 401k pays its plan service provider(s) and fund companies into a single “all-in fee” and then compares it to Employee Fiduciary fees. These comparisons are based on the following plan information:
- ERISA 408b-2 fee disclosure
- Current fund-line-up with balances
- Participant count
Since launching the service, we have accumulated a large database of 401k fees. Completed comparisons are published below, sorted by service provider. The percentage saved includes investment expenses.
Don’t be surprised by your 401k plan fees! Check out our low transparent fees to see how little it can cost to help your employees save for retirement. Want to find out more about our services? Request a free 401k plan proposal.