401(k) Fees- A Threat to Retirement
America’s largest 401(k) provider, Fidelity Investments, reported that average balances in 401(k) Plans has reached a record high of $84,300, largely due to a thriving stock market.
According to AARP, 71% of Americans wrongly believe they pay no fees at all. These plans are not free. On the contrary, the average total plan cost ranges between .49% and 1.56%, meaning that many workers are paying over $1,000 per year in fees on money they have already put away for retirement.
Schlichter, Bogard and Denton, LLP is working hard to put an end to these outrageous fees that work against your retirement. Fellow industry leaders, like Mike Alfred, co-founder and CEO of Brightscope, have noted the “humongous” impact the firm has had in bringing down fees across the country. Due in large part to this law firm’s work, fees in 401(k) plans continue to drop, painting a brighter picture for American families.
About Schlichter, Bogard & Denton, LLP
Schlichter, Bogard & Denton, LLP is a unique national law firm that represents individuals, including 401(k) plan investors, whose plans suffer from excessive fees or imprudent investment options. Our attorneys are dedicated to helping employees and retirees secure the retirement benefits they deserve. If you have any questions about the fees and investments in your 401(k) or 403(b) plan, please contact Schlichter, Bogard & Denton, LLP at (314) 621-6115 for a free review of your plan.
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