Curious How Your 401(k) Stacks Up Against Others? Check Out OnlyBoth to See How

We’ve written before about how high 401(k) fees can take a big bite out of your retirement savings. But if you’re looking to make the case that your workplace plan is too expensive, you might need some more data — thankfully, a resource called OnlyBoth allows you to search your 401(k) to find out how it stacks up against others.

• OnlyBoth compiles nearly 52K plans in FY 2024; you just have to find out the asset amount is in your employer’s plan, search it, and then peruse the report.
• The reports on OnlyBoth will reveal everything from the average account balance of an account, the cash contributions made by employees, matching or contributions made by your employer, and the cost of fees and administration.

How can you use this? The unacquainted might not know how to make this information work for them, but OnlyBoth makes it relatively intuitive. Check out this page for The Valve Corporation 401(k) Plan and Trust (sorry Half Life 3 fans) — it identifies the strengths and points of improvement, both in the state in which it’s located and in the industry. Some of these insights might be simple to share with decision-makers at your employer.

Bottom line: It might also be nice to know where you stack up in terms of contributions compared to your coworkers — are you saving more or saving less?