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Why uncover fees in your 401(k) plan? It's not as simple as looking at a prospectus. It's your responsibility to understand the fees in your 401(k) plan and disclose them to your employees.

Factors that determine the fees in a 401(k) plan include:

• Average participant account balance
• Total plan assets
• Three major administrative architectures
• Four investment architectures
• Three different types of funding contracts
• Six major delivery channels
• At least 12 sources of revenue for plan service providers and
• Potentially additional embedded expenses within each service area.

The second difficulty of understanding the fee structure lies in the fact that the information is not always presented in the same manner. There are basically three categories of retirement plan fees:

1. Disclosed fees
2. Partially disclosed fees and
3. Believe it or not, hidden fees.

Learning how to approach providers and brokers to evaluate their fee structures is a very important skill since most providers and brokers do not provide this information in a clear anner.

Click the "Contact Us" link above to get a 401(k) Checkup to uncover your fees.