It's YOUR Money, Not Theirs!
Let's rescue America's retirement plans! Employees deserve and should demand an employee-centric plan which eliminates brokers, investment commissions, excessive fees and proprietary products which are more profitable for the plan provider. Employees deserve to have equal access to the same ultra low cost (index) funds (the same ones that typically perform the best over time) regardless of how much they have to invest or the size of the company they work for.
Commission, Kickbacks... Business As Usual
What Is The True Price of YOUR 401(k) Plan?
This represents the total annual investment costs including the management expenses of the mutual funds, broker commissions and other asset based charges etc (this does not include other 3rd party cost that may be present in certain plans).*
This graph represents an average cost based on a random sampling of fee disclosures obtained by America's Best 401k from the named providers
Check the Fees of
Your Existing Plan
How Much Do Fees Really Matter?
David, Tyler and Joe, all have $100,000 to invest. All 3 receive the same investment return of 8% BUT they are paying annual fees of 1%, 2%, and 3% respectively.
It's Not Just Our Opinion
"The goal of the nonprofessional should not be to pick winners—neither he nor his "helpers" can do that—but should rather be to own a cross section of businesses that in aggregate are bound to do well"
- Warren Buffett, The Oracle of Omaha
"Most people don't do the math, and the fees are hidden. Try this: if you made a onetime investment of $10,000 at age twenty, and, assuming 7% annual growth over time, you would have $574,464 by the time you're nearly my age 80. But, if you paid 2.5% in total management fees and other expenses, your ending account balance would only be 140,274 over that same period!"
- John Bogle, Investment Legend and Founder of Vanguard
"When you look at the results on an after-fee, after-tax basis, over reasonably long periods of time, there's almost no chance that you end up beating the index fund."
- David Swensen, author of Unconventional Success and manager of Yale's Endowment
"The corrosive power of fine print and buried fees can eat away like a chronic illness at a person's savings."
- Secretary Thomas Perez, Head of Department of Labor
Employees of Small 401(k) Plans Pay More.
How Is That Fair?
over $5 Million
Plans with over $100 Million
(i.e. Fortune 500 Companies)
After receiving thousands of fee disclosures from both employers (408b2 document) and participants (404a5 document), we decided to compile an average fee for the top providers.
We required a sampling of at least 10 fee disclosures from each provider. Being an average, fees could be higher or lower for any specific plan sold by these providers in the future. The averages shown reflect the average investment related costs which include the average expense ratios of the investment options in the plan along with any asset based "wrap" fees or provider fees layered on top of the investment related costs. These often include asset management charges, contract asset charges, or "required" revenue minimums. These averages do not include any invoiced (hard dollar) annual administration. We are happy to provide the disclosures for reference as the plan sponsors name's have been redacted. All disclosures used in this analysis were provided by plan sponsors who ultimately became clients of America's Best 401k.
The Impact of Fees
Three childhood friends, David, Tyler, all have $100,000 to invest (at age 35). Each selects a different mutual fund, and all three are lucky enough to have equal performance in the market of 8% annually. At age 65, they get together to compare account balances. David only has $432,194 while his friend Joe has $761,225. When it came time for retirement, David, Tyler and Joe each needed 60K for retirement. As you can see from the chart, David (with the highest fees) ran out money before his 75th birthday while Joe's money lasts until age 95.
Complimentary Plan Review
By looking under the hood of your existing plan, we will uncover the true "all in" costs that you are paying and show just how excessive fees are impacting your plan. For example, a 1% savings can mean 10 additional year of retirement income! We cut our clients' fees by 57% on average!
Its a business owners' legal obligation to benchmark their 401(k)plan periodically. By visiting our site below you can request a free plan comparison that will fulfill this obligation and reveal if there are fee savings available. Its a win/win...Visit America's Best 401k
Need More Reasons to
Make This a Priority?
Business owners have a legal "fiduciary" duty to provide a competitive plan that has fees that are both fair and reasonable. Business owners and 401(k) providers are experiencing a wave of lawsuits for excessive fees and other shortcomings...
Is your 401(k) Worth Suing Over
Principal 401(k) participants settle with company on excessive fees claim
Great-West/Empower Targeted in Revenue
Mass Mutual Settles Revenue Sharing Lawsuit
DOL to Intervene in Excessive Fee Lawsuit against Northrop Grumman
Lockheed Martin to Pay 62 Million to Settle 401k lawsuit
Aegon Sued Over Alleged Excessive Fees in 401(k) Plan
Ameriprise to pay $27.5 Million in 401(k) fiduciary breach
Supreme Court Rule Against Edison in 401(k) Suit
What can YOU do about it?
Share this website with your fellow colleagues AND your employer.
Utilize a 3rd party tool such as Blooom which will help make the best of what you have. It will look at the existing funds available to you and select the lowest cost one on your behalf.
Disclosure: Blooom is a third party registered investment advisor. America's Best 401k and its affiliates make no representation related to services provided by Blooom nor is this considered a solicitation on their behalf. No compensation is paid to Americas Best 401k for providing a link to the service.
No Brokers, No Commissions, No Nonsense. It's our tag line and our stance. We remember what most plan providers have seemingly forgotten. That the money in 401(k) plans is the possession of real people. People with families. People that deserve the best shot at financial security. In a sense, we are freedom fighters. Freedom from overly priced 401(k) plans with underperforming investment options.
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