Thanks in part to competitive pressures, anyone with a 401(k) plan paid lower fees last year than investors in either an equity or bond mutual fund outside of a retirement plan, the Investment Company Institute said.
The limited role of professional financial advisers in these plans also has long been a big factor in the difference in fees, a point that the fund manager trade group mentioned in its latest report.
The organization, on the other hand, didn’t address new disclosure rules that also have helped bring down fees in 401(k) and other retirement accounts.
The average expense ratio for equity mutual funds offered in the United States in 2013 was 1.37 percent, the group said. Those who invested in equity mutual funds in 401(k) plans, though, paid an average of 0.58 percent, down from 0.63 percent in 2012.