As the saying goes, there's no such thing as a free lunch. Yet, according to a recent survey by AARP, 71% of 401(k) plan participants reported that they pay no fees for their plan. When told of the fees, six in ten (62%) were not aware of the amount they pay in fees to maintain their account. Just under one quarter (23%) of those surveyed said that they do pay fees.
All Employee Benefit Adviser articles are archived after seven days. REGISTER NOW for unlimited access to all recently archived articles, as well as thousands of searchable stories. Registered Members also gain access to exclusive industry white paper downloads, web seminars, podcasts and blog discussions. Members may also choose to receive any of our daily or weekly e-newsletters covering the latest breaking news, opinions from industry leaders and developing trends with specialized topics like defined contribution/defined benefit, healthcare insurance news, voluntary benefits, and legal issues.