Personal Finance

June 12, 2013 1:00 PM

Average 401(k) retirement account fees decline

Costs for investing in equity funds offered in 401(k)s averaged 63 basis points in 2012, down from 65 basis points for the prior year, the Invsestment Company Institute said today. The average bond-fund expense ratio dropped to 50 basis points compared with 52 basis points in 2011, ICI said. A basis point is equivalent to 0.01 percentage point.

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