401k Good News – Bad News but Mostly Good:
Good News first: The fees for 401k plans continue to fall, as plan sponsors and participants realize the long-term implications they can have on retirement. This was true for both large and small plans, as the prices for investment and administration were reduced according to the 401k Averages Book. As the costs decline, the savings can multiply over time.
The bad news is that small plans continue to pay higher costs than large plans, and this can be significant. Meanwhile, amid fears of the Corona Virus fallout, investments are taking a beating. Experts agree that a rebound is around the corner and participants should still contribute to their 401k plans. Corona aside, if you are not getting the performance you want out of your 401k plan, visit 401kZone.com to be connected to a licensed financial advisor who will guide you to your financial retirement goals.