NAPA Net - Polling Places 020918

What's the Fee Sense of Your Participants?

A recent survey suggests that three-quarters of Americans are in the dark when it comes to 401(k) fees. Is that the case with the plans – and plan sponsors – you work with?

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* 1. While its hard to generalize (accurately), how many of the participants you work (directly) with know there are fees for their 401(k)?

A few of them

All of them

I have no idea.

Most of them

Some of them

Something else (please specify)

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* 2. OK, so there are lots of reasons why participants might be ignorant/confused about 401(k) fees - but which ONE do you think accounts for the majority?

Because they can't "see" the fees (even though they are disclosed).

Because they don't write a separate check for them.

Because they don't take the time to figure them out.

Because they are too complicated for "regular" participants to figure out.

Because they don't read the disclosures provided.

Because they don't WANT to know.

Something else (please specify)

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* 3. What do you think (know?) participants do with all those 401(k) fee notices?

File them (never to be seen again).

File them to read later.

Read them thoughtfully

Throw them out without having any idea what they are.

Throw them out.

Try to read them, but unable to make heads or tails of it.

Something else (please specify)

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* 4. While its hard to generalize (accurately), how many of the plan sponsors you work with know there are fees for their 401(k)?

A few of them

All of them

I have no idea.

Most of them

Some of them

Something else (please specify)

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* 5. How many of the plan sponsors you work with with know how much their plan pays in fees)?

A few of them

All of them

I have no idea.

Most of them

Some of them

Something else (please specify)

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* 6. Are you talking about fees more with plan sponsors these days?

For some

Yes

Something else (please specify)

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* 7. Any other comments about fees, fee sense (or a lack thereof), fee discussions, fee concerns (or the lack thereof), or - life in general?

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* 8. What size plans do you PRIMARILY work with?

Under $10 million in assets

$10-$20 million

$20-$50 million

$50-100 million

$100 million - $250 million

$250 million - $500 million

Above $500 million

Other (please specify)

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* 9. Suggestions for future survey questions?

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* 10. All responses are anonymous and confidential, of course - but if you'd like me to know who you are, or allow for a response, you can leave your email below...