Many Workers Not Familiar With Retirement Plan Fees, Study Finds
Many workers have limited understanding of retirement plan fees, according to new research.
A Pew Charitable Trusts study found out of nearly 1,930 respondents with retirement plans, nearly 7 in 10 said they were at least somewhat familiar with their plan’s fees, but 31 percent were not at all familiar with the fees. About two-thirds had not read any investment fee disclosure in the previous year.
Workers who had participated in retirement planning at some point were more likely than those who had not to be familiar with their retirement plan fees.