The Frugal Fiduciary Small Business 401(k) Blog
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Employers that sponsor a 401(k) plan have a fiduciary responsibility to pay only reasonable fees from plan assets. Keeping 401(k) fees in check is one of the most important 401(k) fiduciary responsibilities because excessive fees reduce investment returns unnecessarily, making a secure retirement for plan participants less affordable. Not meeting this responsibility can also mean severe consequences for the employer – including personal liability.