How often in life when things are hidden from you do they work out in your favor? Not often. The same is unfortunately true when it comes to high hidden fees and other structural issues with your company retirement/401k plans. Over time, these fees can amount to tens of thousands of dollars of lost retirement savings. Many employers do not realize that they are a legal fiduciary when they sponsor a retirement plan and need to make sure that the fees paid to administer the plan are reasonable. Unfortunately, most employers can’t quantify what they are paying, and what employees are paying to participate in their own retirement plan. This Wall Street Journal article describes a recent large settlement and other legal trends related to the problem. Alliance offers a variety of cost-effective retirement plans (without any hidden fees). Please call Alliance at 775-297-4000.
