No 401k fees are skimmed from participants' assets.
No Fees 401k will NEVER Deduct or Skim Fees, Including Hidden Fees, From Employer or Employees' Assets...EVER!
As proven by the non-profit AARP report offered for download below, the average employee using a 401k will lose about $150,000 from "fee skimming" by financial advisors and their partners.
Fees skimmed from participants' 401k assets go directly into advisors' and their partners' pockets. These indecent fees are IN ADDITION TO what a small business pays for the 401k —a double hit, plain and simple.
401k fees are devastating for employees' retirement security. For example, an annual asset fee of only 1% results in a massive 40% loss in a participant’s 401k after 30 years of employment.
Most 401k savers are unaware they are paying unnecessary marketing fees and advisors commissions, extracted from their 401k accounts. It's a national scandal --- and reduces the typical 401k value by nearly $155,000!
--- Quote from AARP Report
Today the typical American household saving for retirement in a 401k will pay nearly $155,000 in un-necessary, excessive, mostly hidden 401k fees and commissions to brokers, agents and administrators.