What do YOU think your 401k fees are?

[jIM_Ohio]

In my latest venture as a registered investment advisor, I am now advising on 401(k) plans in a few different capacities.

What fees are you paying as a PARTICIPANT in your 401k plan?

I am taking an informal survey now... I will ask the same question again in August (because on July 1 the rules change).

[jteezie]

My last company, all the funds were from
.01 to . 06% expense ratios.

My current company, I chose the 3 that are in the
.01 to .06% expense ratio, but the rest are 1.0-1.5%

[kork13]

I've got the TSP (401k for military & federal employees)... To my understanding, there are no account ownership fees, and the expense ratios for all 5 of the TSP's funds are just .025% ($0.25 per $1000). So overall.... awesome!

[jIM_Ohio]

The expense ratios are not the fees I referred to... there are 3rd party administration fees, administration fees, fiduciary fees and more- nickel, dimes and dollared all the way... do you know what those fees are? You will after July 1.

[kork13]

The expense ratios are not the fees I referred to... there are 3rd party administration fees, administration fees, fiduciary fees and more- nickel, dimes and dollared all the way... do you know what those fees are? You will after July 1.

I sort of thought that's what you meant... To my knowledge, at least for the TSP, I don't believe there are any. I haven't heard about new disclosures coming down the pipe, but I understand your point -- even if there aren't any of these fees, it's never been pointed out that they are or are not there.

[Slug]

The expense ratios are not the fees I referred to... there are 3rd party administration fees, administration fees, fiduciary fees and more- nickel, dimes and dollared all the way... do you know what those fees are? You will after July 1.

I think the answer is we don't know what we don't know...but we will...and then the sh%t will hit the fan.

[Like2Plan]

In my latest venture as a registered investment advisor, I am now advising on 401(k) plans in a few different capacities.

What fees are you paying as a PARTICIPANT in your 401k plan?

I am taking an informal survey now... I will ask the same question again in August (because on July 1 the rules change).

Jim,
Are you the plan administrator for some 401k's or do you advise folks on how best to invest within their company 401k's ?

I thought the expense ratios encompassed all the fees to which you are referring--so, I will have to look at my statement in August and see. I have never seen fees such as you described on my account (or my DH's 401K) up to this point. Though, I have noticed DH's company will charge a fee on his 401K if he leaves the company and leaves the money in the 401K.

[green_goblin12]

I also have a TSP, so no fees besides low, low expeses (.02 or .03%). My wife's 401k just started putting an 'advisor fee' on the statements, possibly in light of the new laws. It is .08% + the fund expenses of course. BUT, I'm not sure that is all, there really is no way to tell, even after I called and asked her 401k advisory firm. So hopefully this is all, but maybe we'll see.

[green_goblin12]

Jim,
Are you the plan administrator for some 401k's or do you advise folks on how best to I thought the expense ratios encompassed all the fees to which you are referring--so, I will have to look at my statement in August and see. I have never seen fees such as you described on my account (or my DH's 401K) up to this point. Though, I have noticed DH's company will charge a fee on his 401K if he leaves the company and leaves the money in the 401K.

That is the problem with 401k and what the new law will hopefully enlighten a few investors. I bet brokers are getting fidgety with the new law. They LOVE to have fees and expenses hidden, confusing, or otherwise unknown. I'm sure they'll make it up in some other dishonest way. Can't they now sell and market annuities alongside the 401k's or something?

[jIM_Ohio]

Jim,
Are you the plan administrator for some 401k's or do you advise folks on how best to invest within their company 401k's ?

I thought the expense ratios encompassed all the fees to which you are referring--so, I will have to look at my statement in August and see. I have never seen fees such as you described on my account (or my DH's 401K) up to this point. Though, I have noticed DH's company will charge a fee on his 401K if he leaves the company and leaves the money in the 401K.

a 3(21) fiduciary advises the plan sponsor on how to design the plan
a 3(38) fiduciary advises plan participants on making investment choices

I do both, but I cannot do both on for same 401(k) plan (a person cannot be fiduciary to two people on same transaction is the short answer to that.

Fees are embedded sometimes... I have seen numerous issues come up in plans where fees were not disclosed, and therefore what people thought was a "low cost" 401k is really expensive because they did not realize that some assets were removed from the plan to pay the costs.