Wednesday, September 17, 2008

401(k) Fees - The Employers Choice

A great deal has been said about forcing financial institutions to disclose their hidden fees and expenses for 401(k) Retirement Plans.

But businesses - small businesses especially - tend to select a 401(k) provider for their company based on the monthly fee (only $100 per month!) or because the owner's best friend is a money manager and can do 'it all' inexpensively.

It's not the cost of maintaining the program - it's the hidden costs - especially expense fees - that are rarely if ever disclosed.

Demand from your third party administrator or money manager what those expenses are - they are costing you and your employees a reduced return on their investment.

And that means you are costing your employees and yourself - your retirement.

Courtesy Wall Street Journal.

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