401k fees

The Takeaway: 401(k) Fees Reduce Savings by 30 Percent, Says Study

Posted on 05/31/2012 by |Brooklyn, NY | Comments

Bulletin TodayHmmm … 401(k) plans can help you save money for retirement, but they many also cost you more than you realize. According to a new study from research firm Demos, the average American couple pay nearly $155,000 in 401(k) fees in the course of building up their proverbial nest egg; wealthier couples could pay nearly $278,000. These fees can reduce 401(k) savings by an average of 30 percent.

401(k) Fee Rules Changes Coming This Summer

Posted on 04/23/2012 by |Money and Work | Comments

Bulletin Today | Money & SavingsWorkers will be able to learn how much the fees for their 401(k) plans are draining from their accounts when new disclosure rules go into effect this summer. Beginning July 1, financial institutions that administer employer-sponsored defined contribution and pension plans will be required to disclose the fees and administrative costs they charge in a user-friendly format. The rules were initially scheduled to take effect this month but the U.S. Department of Labor delayed implementation from April to July to give …

Beaches and Your 401(k) Plan

Posted on 06/15/2011 by |AARP Blog Author | Comments

Money & SavingsWhat do these two things have in common? They’re both subject to erosion – of the natural and man-made varieties. Obviously you have more control over your 401(k) than what your favorite beach destination will look like years down the road. Personal Finance Writer Sandra Block of USA Today recently highlighted five things that can sabotage your 401(k): loans, rollover decisions, hardship withdrawals, cashing out early, and fees. Some things  — like cashing out early and hardship withdrawals — can …

It’s 4 a.m. Do you know what you’re getting charged in 401(k) fees?

Posted on 05/2/2011 by |AARP Blog Author | Comments

Money & SavingsIt’s not a question that keeps most people up at night — but maybe it should. Or perhaps a better question is this: did you know that 401(k) plans have fees associated with them? If you didn’t, you’re in good company. In fact, seven in 10 people didn’t realize that 401(k) plan providers charge fees to participants, according to a recent AARP study. 401(k) plans are still a powerhouse for your retirement funding, especially when some of your contributions are …