Does anyone have any idea if a 0.30% recordkeeping fee for a 401K fund with between $35M and $36M of assets is reasonable? That's what my work's 401K manager is charging plan participants (across every available fund), on top of the regular fund expenses.
I didn't realize the fee was 0.30%. I hate to say it but I've been complacent, in that I see fees coming out of my account but have never done the math to confirm that my 0.05% ER index fund is actually posting 0.35% fees. It makes sense of course that these managers charge some amount of a fee for overhead, but I'm wondering if anyone has any idea if 0.30% is reasonable.
I just went out to the managers website to try to find anything that disclosed the 0.30% recordkeeping fee and I can't find anything. If it's on their website, it's buried. I thought they had a requirement to disclose this information, but perhaps their requirement is to disclose it to my employer and not the participants. I may contact them directly and ask them to provide me their fee structure. Assuming they give it to me, I may pass that along to my employer and suggest that they be more transparent in communicating these fees to employees.
From a few Google searches, it seems that 0.30% may be below average (the average in 2015 was 0.46%, though it doesn't state any information about the average amount of assets). Does anyone know what their plan's recordkeeping fees are as a basis of comparison?