CHECK YOUR 401K FEES (AS REPORTED BY JOHN COUMARIANOS ON FINANCE.YAHOO.COM)

Do you know how much you are paying in fees in your 401k plan? Most people don’t. If you’re lucky enough to be enrolled in a company-sponsored 401k retirement plan, you might want to ask how much the fees are.

A recent study of plans from a number of different companies found that the average fee size was between 1.5% and 2% annually for smaller plans, and 1% for larger plans. But some people are paying more than 2%. That will lead to a huge reduction over time in the amount that are able to put away for retirement. For more on 401k fees, click here.

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