For more stories like this, sign up for the PLANSPONSOR NEWSDash daily newsletter.
Products June 7, 2007
ShareBuilder Tries to Heighten 401(k) Fee Awareness
June 7, 2007 (PLANSPONSOR.com) - Washington-based
ShareBuilder has kicked off a campaign to raise awareness
about 401(k) participant fees, specifically calling for fees
to stay below the 1% mark and for total fee
transparency.
Reported by Adrien Martin
According to a press release from the company, smaller companies end up paying larger fees because they don’t have the same negotiating clout as big clients.
The company’s “1% Goal” campaign makes the claim that no participant should pay more than 1% in total fees. According to the press release, ShareBuilder 401(k) charges a 0.75% annual asset management fee and offers exchange traded funds with an average model portfolio expense ratio of 0.21% – which brings the total fees paid to 0.96%.
As part of the campaign to raise awareness, ShareBuilder has created a Web site – http://www.401kcostguide.com – that helps users decode 401(k) fees and illustrates how the fees impact retirement savings.
For more information, visit http://www.sharebuilder401k.com .