Pretty-Produce2368

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2025-02-03 21:11:00

401K taking over 10% in fees???

All 401(k) plan administrators charge a monthly fee for each 401(k) account. While you are employed, your company will pay that fee for you. As soon as you are no longer an employee of that company, they will stop paying that fee for you and the plan administrator will start charging you that fee.

1738619474
I am already getting charged a fee, I am getting charged a new additional fee on top of the admin fee I have been paying.

1738620197
Yea, often there are two fees when you’re employed - one that your employer pays, one that you pay. When you are no longer employed there, the employer portion will shift to you.

1738686020
That would make sense if they charged that to me when I left 3 years ago, but they only charged it last quarter when I told them I would like to move it. It almost feels like to took all the money they could before they lost the asset. In which case maybe it isn't illegal but seems very greedy and unethical.

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