Employer can cost your 401(K) big bucks - WRBL

Employer can cost your 401(K) big bucks

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U.S. -

When it comes to retirement accounts, the company you work for could cost you big bucks.  Workers at some companies lose tens of thousands of dollars in 401K fees and earnings, according to Future Advisor, an online financial adviser. That can be more than double the amount lost by workers at other firms.

Workers pay a percentage of their account balance toward administrative and investment-management fees.  As the account balance grows, the fees they pay grow as well.

The highest fees are typically at small companies that have less power to negotiate with financial firms that offer retirement accounts.

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