News | 05.09.19
A New Fight Breaks Out Over 401(k) Fees
Two recent lawsuits have claimed financial services companies tried to generate revenue on 401(k) plans beyond traditional administrative fees, sometimes at consumers' expense. On average, the fees 401(k) participants pay for investments and administrative services fell from 0.65 percent of assets in 2009 to 0.51 percent in 2015. As a result, companies that provide administrative services for retirement plans saw record-keeping fees fall to their lowest level in 2016 and remain virtually flat since. In response, some administrators are pursuing new sources of revenue.
Read the full article on Wall Street Journal