Gardere Michael Abbott's Interview with Houston Chronicle regarding 401(k) fees

08 July 2011 News

The Houston Chronicle spoke with Gardere Partner Michael A. Abbott about the Firm’s 401(k) plan. According to Mr. Abbott, who heads the Firm's retirement committee, Gardere cut its 401(k) expenses in half, from 0.70 percent to 0.35 percent of total assets. That translates into an annual savings of $350 for every $100,000 in an employee's 401(k) account. The average 401(k) account at Gardere has $142,000.

"We started by asking how much they were getting," Mr. Abbott said, referring to the provider that manages the Firm's 401(k) plan.

The full article can be accessed here.

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