Never miss a story — sign up for PLANADVISER newsletters to keep up on the latest retirement plan adviser news.
Products June 18, 2012
ShareBuilder 401k Unveils Fee Calculator Website
A new website from ShareBuilder 401k allows companies to calculate and compare 401(k) plan fees.
Reported by Jay Polansky
The site at www.401kFeeSaver.com features a free “fee checker” to calculates a 401(k) plan’s employee fee percentage. Employers enter their plan’s total assets (or average annual balance) and total investment product fees listed in their 401(k) plan fee disclosure document, and the checker produces an estimate and assessment of their plan’s fees.
“Now that sponsors will have a full accounting of their 401k fees with fee disclosure, many could be left wondering if they are paying too much,” said ShareBuilder 401k General Manager Stuart Robertson. “Our goal is to make it quick and easy for employers to review their company’s 401(k) plan and determine if they’re getting a good deal, or should consider a change.”
Robertson said employers should aim to keep plan fees below one percent.
Employers can also submit their fee disclosure documents to 401kpros@sharebuilder.com, and within 48 hours, ShareBuilder 401k will return a breakout of potential cost savings for both employer-paid and employee-paid costs on an annual basis and over a five-year horizon.
« Advisers Face Obstacles in Product Options and Client Expectations