About Me

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John Nicholson is the founder of www.The 401K Man.com, an independent insurance & financial services agency dedicated to helping others find their solutions through the myriad of choices when seeking insurance, retirement and financial advice. John's career path began with helping others in the late 1980's and early 1990's. The 401K Man is an independent agency servicing the Midwest which provides a wide variety of choices as opposed to one size fits all plan available at many of the larger financial or "brand" insurance companies & firms. We offer many solutions from basic insurance policies to comprehensive estate planning.

Monday, February 3, 2014

Analyze Those 401K Expenses

Were you confused or curious to find out about the fee charged or the fee disclosure form in your 401(K) statement over the past few years?
You like many others have begun finding a fee disclosure form and probably wondering, if you are being charged to much?
401(K) fixes has a way to help you find out if your plan fees are excessive. Our organization can help you learn more and also help your group step away from a poorly designed plan.We want you to know that the law changed back in 2012 for 401(K)  plans to disclose the fees associated and charged for managing the plans.

Many people are stunned to discover how much the fees being charged are. Estimates that those fees charged for management could potentially be in the tens of thousands over the lifetime of the average American employee.
These are legitimate fees for the most part with the administration expense of following the myriad of regulations designed to protect the beneficiaries and account holders.
Now that there has been some light shed on those fees the exorbitant fees charged by some has come to light recently. There has been a large spike of lower cost providers all clamoring that they are lower, better, faster and god knows what else.
The simple old adage of buyer beware still holds true though. To many business owners are under the impression that fiduciary means they may have best interests of all the plans participants. This in theory is true but may not hold up under closer examination by the Department of Labor and I.R.S. if a full review takes place.  Be sure to ask your representative if they would represent you under an audit. 
Call us toll free at 877-775-0812 to learn what options are available to help plan sponsors and participants never lose a dime again in their retirement savings to excessive fees. submit your questions for an E-mail response.