Excessive Retirement Fees

Investor Claims Is What We Do - All Day, Every Day

Since 1999 our law firm has recovered more than $350,000,000 for victims of investment fraud and misconduct.
  • Jury Verdict Won Against Prudential Securities $262 Million
  • Recovered for 100-Year Old Widow $30 Million
  • Recovered in Retirement Losses $10 Million
  • Recovered for a Large Group of Individual Investors $6.5 Million
  • Recovered for Elderly Victim in Ponzi Scheme Case $3.8 Million
  • Recovered for Elderly Ponzi Scheme Victim $3.2 Million
  • Recovered for More Than 50 Families of Ponzi Scheme in California $3.2 Million
  • Recovered for 35 Families in Northeast Ohio $3.1 Million
  • Losses Recovered for 20 Retirees $3 Million
  • Recovered for Retired Physician Against Major Wall Street Firm Prior to Filing FINRA Arbitration $2.5 Million

Am I Paying Excessive Fees in My Employer-Sponsored Retirement Plan?

Do you know the fees you are paying every year in your 401(k)plan sponsored by your employer? Most people who are enrolled in their employer’s 401(k) plan don’t know how much they’re paying, or how those fees are even paid. The reality is that your money that you have saved in your retirement plan are paying those fees and very often these fees are way too high. And believe it or not, those fees really add up to a big number over the years.

Employers that run 401(k) plans owe their plan participants a fiduciary duty to supervise and closely monitor the retirement plan, including the fees paid to outside service providers and advisors. We have found that many plan sponsors are doing nothing to prevent these outside service providers from charging excessive fees, costing employee participants many thousands of unnecessary dollars. And, because the fee structure is often buried in the fine print, employees often don’t know that they are losing so much money.

The most common fees in a 401(k) plan are advisor fees, administrative fees, and investment fees. If you are paying more than a quarter or a half a percent annually in fees, you may be paying too much.

Let me demonstrate how these fees really do add up to a big number. Let’s say you have a balance of $25,000 in your 401(k) and you have 35 years until retirement. You earn 7% return annually and you do not put any more money in. If plan expenses and fees are 0.5 percent a year, your balance will grow to $227,000 in those 35 years. If those fees total 1.5 percent, however, you would end up with just $163,000, 28 percent less. That’s a loss of $64,000!

To find out what you are paying in fees, you should first ask your plan administrator for a copy of the plan’s summary plan description. As a participant in the retirement plan, you are entitled to receive this document. This will tell you the fees and expenses of the plan, in addition to other information about the investments offered. If you have any concerns about the fees and expenses in your 401(k), we would be happy to do a no-cost evaluation of your plan and the expenses you are paying. Give us a call today.

The Meyer Wilson Way

Results-Focused Representation
  • More than $350,000,000 Recovered
  • Voted Best Lawyers in America┬« for over Ten Years Running
  • David Meyer is President of Public Investors Advocate Bar Association (PIABA)
  • Over a Thousand Investor Claim Cases Since 1999
  • Exclusive Focus on Investor Claims & Class/Mass Action Lawsuits
  • Deep Bench of Skilled Attorneys and Staff Members

TRUSTED BY OVER 1,000 INVESTORS

Meyer Wilson has represented over 1,000 individual investors in high-stakes claims across the country, and has recovered over $350 million on their behalves. See what former clients have to say about our team.

  • “I primarily worked with Courtney Werning throughout the process and she was informative and knowledgeable. I trusted and fully recommend Courtney and her team.”

    - S.R.
  • “The communication throughout the process was on par - and they took the time to indulge me with the various questions and opinions.”

    - R.G.
  • “What I truly appreciated was getting a great result for my Mom with limited involvement/stress on her.”

    - S.W.
  • “We went to arbitration with the other respondent and I got to see firsthand the level of professionalism and expertise the Meyer Wilson firm can deliver.”

    - D.V.
  • “Chad would take the time to call and talk with me. His explanations were always clear and concise. I also appreciate all the effort put into the details and statistics required to argue this case.”

    - P.N.
  • “Meyer Wilson was able to produce the results that we felt were obvious and warranted while several other firms and even state offices simply had trouble understanding let alone moving the case forward.”

    - B.K.
  • “My overall experience was positive and I would encourage anyone who even thinks they have been a victim of stockbroker misconduct to call David.”

    - S.T.
  • “Meyer Wilson represented me in a suit brought last year against my brokerage firm, securing a very fair and equitable settlement for me.”

    - R.G., M.D.
  • “Right from the start, you had the passion and desire to win this case for us. I have never worked with an attorney or firm as compassionate as yours. I would highly recommend your firm to anyone.”

    - G.A.

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