I heard about an interesting resource this week. freeERISA.com allows employees to compare how much their company is paying in administration fees to the companies managing their 401K plans.
Search by company to find Form 5500 Schedule C. I noticed my company ( Per-Se Technologies ) is paying $277,075 annually to allow Hewitt Associates, Northern Trust Company and Morgan Keegan to manage our 401K plan. Of course, the higher these fees, the more money that will ultimately come out of your hard earned savings.
This is a pretty good resource if you are investigating a company to work for and want to size-up their 401K plan administration costs.
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