Never miss a story — sign up for PLANSPONSOR newsletters to keep up on the latest retirement plan benefits news.
Reader Responses July 22, 2010
SURVEY SAYS: How Much Are YOU Paying as a Retirement Plan Participant?
July 22, 2010 (PLANSPONSOR.com) - While on the topic of fees, I asked readers if they knew how much they were paying as a participant – and what that was.
Reported by Nevin E. Adams
Well, the good news is that 49% said they did know how much they paid, and another 24,2% said they knew at least “approximately.”
That said, just under one-in-five said they did not know, while another 7% weren’t sure.
Now, as to how much they are paying, the most common response (though by no means a majority) was the 24.1% who said the figure was between 75 basis points and 100 basis points.
Close behind – very close behind, in fact – and tied for second place, were the 23% who said it was between 25 bps and 50 bps – and the (matching) 23% who said the figure was between 50 bps and 75 bps.
Said another way, about three-quarters said they paid between 25 bps and 100 bps.
Among the other responses:
14.5% – 25 bps or less
10.8% – between 100 bps and 125 bps
2.4% – between 125 bps and 150 bps
2.4% – between 150 bps and 175 bps
Thanks to everyone who participated in our bonus survey!