Twenty-four percent of participants in small 401(k) plans have balances of zero.
I don't mean small balances due to small contribution amounts, I mean that they have 401(k)s with no money in them. Meaning that these participants are not actually "participating." Meaning that if they gave out awards for retirement investing, these people wouldn't even receive participation trophies.
The average fee that a broker receives from these plans on an active per-participant basis is $157.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
