In a recent AARP study, the majority of 401(k) plan participants feel that employers that sponsor plans (61%) and financial service companies that administer the plans (52%) should be responsible for ensuring that participants understand the fees charged by their plans. Slightly fewer (46%) feel that employees themselves should be responsible,
and just over one in ten (13%) feel that responsibility lies with the government.
When asked who should be most responsible for ensuring that participants understand fees charged by plans, respondents are most likely to identify employers that
sponsor plans (36%) followed by the financial services companies that administer the plans (32%) and employees that participate in plans (28%).
Base: All 1,584 respondents. Percentages add to more than 100% because each respondent was allowed to select multiple responses.
Base: All 1,584 respondents.