iQ401k https://iq401k.com/

iQ401k Fees vs Industry Fees

As you can see by the table, cost savings of iQ401k platform becomes more evident when the average per account balance is greater than $50,000.

 

On our platform, greatest savings are for retirement plans with 50 participants with an average account balance of $100,000. These plans can save up to nearly 97% on our platform. Followed by plans with 100 and 200 participants with an average account balance of $100,000 saving about 92% in fees.

 

Our fees are based on per participant and do not increase as plan assets increase. For smaller plans, we are somewhat cost-prohibitive in the beginning. But as plan assets grow, our flat fees will remain the same and decrease percentage-wise.

 

Plan DetailsIndustry Averages*iQ401k & VRPA Fees (as a %)**
Plan Assets
# of Participants
Average Account Balance
Advisor & Fund Fees
Recordkeeping & Administration Fees
Total Fee
iQ401k & Fund Fees as a %***
VRPA Recordkeeping & Administration Fees as a %
Total Fee as a %
$250,00025 $10,0001.64%1.02%2.66%3.20%1.83%5.03%
$500,00050 $10,0001.56%0.66%2.22%2.70%1.29%3.99%
$1,000,000100 $10,0001.36%0.50%1.86%2.45%1.00%3.45%
$2,000,000200 $10,0001.24%0.39%1.63%2.33%0.82%3.15%
$5,000,000500 $10,0001.19%0.30%1.49%2.25%0.72%2.97%
$10,000,0001,000 $10,0001.10%0.27%1.37%2.23%0.66%2.88%
$20,000,0002,000 $10,0000.98%0.24%1.22%2.21%0.60%2.82%
$500,00010 $50,0001.42%0.41%1.83%1.10%0.77%1.87%
$1,250,00025 $50,0001.32%0.17%1.49%0.80%0.37%1.17%
$2,500,00050 $50,0001.24%0.11%1.35%0.70%0.26%0.96%
$5,000,000100 $50,0001.12%0.08%1.20%0.65%0.20%0.85%
$10,000,000200 $50,0001.01%0.06%1.07%0.63%0.16%0.79%
$25,000,000500 $50,0000.94%0.04%0.98%0.61%0.14%0.75%
$50,000,0001,000 $50,0000.87%0.03%0.90%0.61%0.13%0.74%
$100,000,0002,000 $50,0000.76%0.02%0.78%0.60%0.12%0.72%
$1,000,00010 $100,0001.31%0.13%1.44%0.65%0.38%1.03%
$2,500,00025 $100,0001.22%0.07%1.29%0.50%0.18%0.68%
$5,000,00050 $100,0001.10%0.04%1.14%0.45%0.13%0.58%
$10,000,000100 $100,0000.99%0.02%1.01%0.43%0.10%0.52%
$20,000,000200 $100,0000.94%0.01%0.95%0.41%0.08%0.49%
$50,000,000500 $100,0000.86%0.01%0.87%0.41%0.07%0.48%
$100,000,0001,000 $100,0000.74%0.01%0.75%0.40%0.07%0.47%
$200,000,0002,000 $100,0000.64%0.01%0.65%0.40%0.06%0.46%

* Industry average data was obtained from the 401(k) Averages Book (21st edition) and based on 195 product offerings and 66 service providers.
** iQ401k & VRPA charge flat dollar amounts based on # participants. Fees are presented as a % for illustration purposes.
*** 0.20% (20bps) was used as the average fund expense ratio for iQ401k’s fund expenses.