{"id":1311,"date":"2013-03-13T23:45:33","date_gmt":"2013-03-14T03:45:33","guid":{"rendered":"http:\/\/therosenbaumlawfirm.com\/blog\/?p=1311"},"modified":"2013-03-13T23:45:33","modified_gmt":"2013-03-14T03:45:33","slug":"the-misunderstanding-of-401k-fees","status":"publish","type":"post","link":"https:\/\/therosenbaumlawfirm.com\/blog\/?p=1311","title":{"rendered":"The Misunderstanding of 401(k) Fees"},"content":{"rendered":"<p>Forbes had a nice blog <a href=\"http:\/\/www.forbes.com\/sites\/ashleaebeling\/2013\/03\/11\/401k-fees-still-widely-misunderstood\/\">post<\/a> on how 401(k) plan fee disclosures are misunderstood. \u00a0According to a survey they cited, 22% of all plan participants still think that they pay nothing for the administration of their plan. That\u2019s actually an improvement when it was 38% before fee disclosures.<\/p>\n<p>While fees for 401(k) plans are in the 1 to 2% range, 25% of the participants who thought they paid fees thought that they paid 25% in fees!<\/p>\n<p>What does this mean? I think a good part is that plan participants don\u2019t read fee disclosures and if they do read fee disclosures, they may not understand that. That is why I believe that fee disclosures to plan sponsors and plan participants should have less jargon and be clear. Also, fee disclosures have been in place for only about a year, any major difference in participants\u2019 knowledge will take time. All I know is that we still have work to do.<\/p>\n<p><span class='st_sharethis' st_title='{title}' st_url='{url}' displayText='ShareThis'><\/span><\/p>","protected":false},"excerpt":{"rendered":"<p>Forbes had a nice blog post on how 401(k) plan fee disclosures are misunderstood. \u00a0According to a survey they cited, 22% of all plan participants still think that they pay nothing for the administration of their plan. That\u2019s actually an &hellip; <a href=\"https:\/\/therosenbaumlawfirm.com\/blog\/?p=1311\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n<p><span class='st_sharethis' st_title='{title}' st_url='{url}' displayText='ShareThis'><\/span><\/p>","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5,1],"tags":[],"_links":{"self":[{"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/1311"}],"collection":[{"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1311"}],"version-history":[{"count":1,"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/1311\/revisions"}],"predecessor-version":[{"id":1312,"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/1311\/revisions\/1312"}],"wp:attachment":[{"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1311"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1311"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1311"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}