Small business owners are still confused when it comes to the fees they are paying for their 401(k) plans.
A new national survey by ShareBuilder 401k found that because small business owners can't figure out the fees they are unprepared for the questions their plan participants are asking.
"Our survey results suggest many small business owners are still in the dark when it comes to their 401(k) plans and costs, demonstrating our industry has more work to do in disclosing fees transparently and in ways that are easy to understand," said Stuart Robertson, president of ShareBuilder 401k. "Everyone has a right to know the fees they're paying for their 401(k) as over the course of a career, paying an extra percentage point can shrink your nest egg by hundreds of thousands of dollars."
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