Excessive 401k 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

Paying Excessive 401(k) Fees?

Excessive Fees in Your Company’s 401(k) Can Cost You Big Money

When your retirement money is invested with your company’s 401k, your employer typically pays fees to one or more financial services companies to manage the retirement money and provide different services on behalf of you and your fellow employees. These service providers are paid with your retirement money.

Making matters worse, their fees are often not clearly identified or explained, making it hard to know how much you are paying. And just as often, these fees are simply too high. Way too high. Most employees have no idea how much of their 401(k) retirement savings is getting paid to the financial service companies.

Do the Fees Charged in my 401(k) Really Add Up to a Big Number?

Absolutely. Here’s how the U.S. Department of Labor explains it. Assume you have 35 years until retirement and a balance in your 401(k) is $25,000. You do not deposit any more money in and you earn a 7 % annual return. If fees and plan expenses reduce those average returns by 0.5 percent a year, your balance will grow to $227,000 in those 35 years.

If those fees total 1% higher (1.5 percent total per year), however, you’ll end up with just $163,000, 28 percent less! Imagine having nearly 30% more in your account at retirement without making any changes to the investment portfolio but simply paying 1 percentage point less for fees and expenses.

What Types of Fees Are Charged in a 401(k) Plan and What Amounts are Reasonable?

The most common fees in a 401(k) plan include advisor fees, administrative fees (record keeping) and investment fees. If more than .25-.50 percent of your retirement plan savings is being spent on fees, you may be paying too much.

Businesses that sponsor 401k plans have a fiduciary duty to supervise and closely monitor every aspect of the operation of a 401k plan, including the fees paid to outside service providers and advisors. The lawyers at Meyer Wilson have found that many plan sponsors are not paying close enough attention to these fees, costing plan participants – their own their employees and retirees – many thousands of dollars. And, because the fees are not transparent, the employees and retirees never know that they are losing so much money.

Where Can I Go to Find Out How Much I am Paying in 401(k) Fees?

To find out what fees and expenses are charged to your 401(k) plan you should first ask your plan administrator. You should review a copy of the 401(k) plan’s summary plan description. This document will tell you the fees and expenses of the plan, in addition to other information about the investments offered. The Department of Labor created a summary booklet called “A Look at 401(k) Plan Fees” that you may find helpful.

If you have any concerns about your 401k, we would be happy to do a no-cost evaluation of your plan. Give us a call at (800) 738-1960 or fill out our contact form and we will be in touch.

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 the Immediate Past-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


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.

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