Workers Pick Up 401(k) Charges
USA Today (10/30/00) Vol. 104, No. 42 p.1B; Dugas, Christine

Companies are moving 401(k) administrative expenses onto employees, which means that fees are taking a larger chunk of those plan accounts. Industry experts say that more people are joining the plans and average account balances are increasing, which makes it easier for participants to absorb the costs. In addition, companies have not gotten much out of paying fees, and they can instead do something more visible, like increasing matching contributions. The shift in fees is part of the trend of employees being given more responsibility for their retirement, according to Pension and Welfare Benefits Administration acting assistant secretary Leslie Kramerich.


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