The Basics of Retirement Plan Fees

You know that putting away money for retirement is important, but do you know what it really costs to manage it on your behalf? Retirement plan fees vary widely, and it’s not always easy to get your hands on hard numbers, which can be frustrating. “The most important thing is to not let your frustration with the lack of transparency when it comes to fees keep you from taking action,” says Desmond Henry, founder of Afflora Financial Life Planning. “At the end of day, employer-sponsored retirement plans are a great benefit that oftentimes includes employer match contributions to help you save for your retirement.” Here’s what you need to know. You May Find That Fees Come in Many Forms Just looking for “fees” on the information you get from the plan sponsor won’t tell you what you’re looking for, because they’re not always called “fees.” Fees may be paid by …

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