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A recent survey of employers by Congress' nonpartisan Government Accountability Office found that half did not know if they or their plan participants paid investment management fees, or they wrongly believed that the fees were waived. Fees can be as high as 1.9 percent of assets annually but average about 1.3 percent for plans with fewer than 100 members, which account for 88 percent of plans, according to the GAO report. The fees can be complex because several different companies may play roles in administering plans, leading to layers of fees shared among the primary plan provider, the plan sponsor and participants.
[Associated Pressldnauthor
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