401(K) Plan Fees.pdf

a-look-at-401k-plan-fees.pdf
Preview of 401(K) Plan Fees
🔗 Source: dol.gov
📊 Size: 453 KB
👤 Author: U.S. Department of Labor, Employee Benefits Security Administration
⬇️ Downloads: 74

Summary

401(k) plan fees and expenses can substantially reduce retirement income. Fees are categorized into plan administration fees, investment fees, and individual service fees. Employers must consider fees and expenses, establish a prudent process for selecting investment options, ensure reasonable fees, and disclose plan information to participants. Participants should make informed investment decisions, consider fees, and compare services with total cost, as cheaper is not necessarily better. Fees can impact account balances, with a 1% difference reducing account balance by 28% over 35 years.

Description

401(k) plan fees and expenses can substantially reduce retirement income.

Technical Information

  • File Format: PDF
  • File Size: 453 KB
  • Pages: 17
  • Language: EN
  • Author: U.S. Department of Labor, Employee Benefits Security Administration
  • Total Downloads: 74
  • Last Updated: 1 month ago

Document Overview

This PDF document about 401(K) Plan Fees provides comprehensive information and guidance. Whether you're a beginner or advanced user, this resource offers valuable insights into 401(K) Plan Fees.

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