Whether it's peer pressure or a desire to "do the right thing," a year after the Department of Labor passed fee disclosure regulations for both defined contribution plan providers and plan sponsors, the industry's fees are dropping.
Gone are the days when a plan could charge 2 percent or even 2.5 percent in fees. The average today is somewhere between 1 percent and 2 percent.
Chad Parks, founder and CEO of The Online 401(k), thinks fees should drop even farther. "It is egregious," he said.
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