For years, far too many 401(k) plan sponsors took a merely casual approach when it came to fees. A few of them may have even believed they weren't paying any fees. As of July 1, 2012, this laissez faire attitude became history, as 401(k) plan sponsors are now on the regulatory hook for knowing precisely all the fees they're service providers are extracting from their 401(k) plans.
But the issue of 401(k) fees contains more complexity than even the more astute 401(k) plan sponsors might have anticipated. Furthermore, those service providers fearing their "hidden" fees might startle their clients have an incentive to mire up the muddled complex with miss-directions and sleights of hand.
This all leaves the most vulnerable 401(k) plan sponsors asking, "What's it all mean?" In an effort to help them begin to answer this question, we provided links to 10 articles that have appeared in the last two years that might just set them on the right road.
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Christopher Carosa
Chris Carosa has been writing a weekly article and monthly column for BenefitsPRO online and BenefitsPRO Magazine since 2011 and is a nationally recognized award-winning writer, researcher and speaker. He’s written seven books, including From Cradle to Retire: The Child IRA; Hey! What’s My Number? – How to Increase the Odds You Will Retire in Comfort; A Pizza The Action: Everything I Ever Learned About Business I Learned By Working in a Pizza Stand at the Erie County Fair; and the widely acclaimed 401(k) Fiduciary Solutions. Carosa is also Chief Contributing Editor of the authoritative trade journal FiduciaryNews.com and publisher of the Mendon-Honeoye Falls-Lima Sentinel, a weekly community newspaper he founded in 1989. Currently serving as President of the National Society of Newspaper Columnists and with more than 1,000 articles published in various publications, he appears regularly in the national media. A “parallel” entrepreneur, he actively runs a handful of businesses, including a small boutique investment adviser, providing hands-on experience for his writing. A trained astrophysicist, he also holds an MBA and has been designated a Certified Trust and Financial Advisor. Share your thoughts and story ideas with him through Facebook (https://www.facebook.com/christophercarosa/)and Twitter (https://twitter.com/ChrisCarosa).
