From US News
How to Choose Between a 401(k) and an IRA
Though it can take some extra effort to get a full accounting from an employer or 401(k) administrator, the results may be startling, says Jerry Linebaugh, founder of JLine Financial in Louisiana.
A new federal law that went into effect in September made it free for parents to make inquiries about credit files in their child’s name and freeze a file if necessary.
“The annual fees for a 401(k) can easily be more than 3 percent, and in some cases more than 5 percent,” he says, adding that “studies show most people have no idea of the fees they are paying in their 401(k), and many assume they are paying little to no fees.”