In many retirement plans, a significant amount of a participant’s earnings are lost to fees.
The New York Times recently featured an article on the challenges that one retired 401(k) plan participant is facing in his efforts to hold his employer accountable for the costs associated with the plan.
Despite a federal requirement that plan fees be disclosed and numerous reports on 401(k) plan flaws, few employees question how much they are being charged, much less take their employers to court. But growing employee resistance, resulting from a greater awareness of plan costs, has resulted in more than 30 lawsuits against 401(k) plans and employers since 2006.
You can read the entire November 7, 2014 article here.