401(k) fee lawsuit-even Vanguard fees can be too high...

[Gone Fishing]

It's nice to see some energy around 401(k) fees...

http://news.morningstar.com/articlenet/article.aspx?id=735492&SR=Yahoo

[Jack]

The suit is more reasonable than the headline lets on: apparently the 401k plan in question was offering Investor-class shares instead of Institutional-class ones (e.g. VTSMX at 0.17% ER vs. VITSX at 0.04% ER) even though they were available. Either the people picking the funds to be included in the plan were incompetent or they were getting some kind of kickback.

[Zamboni]

. . . and now I know why my previous employer suddenly switched to institutional class shares. Nothing like a pending lawsuit to motivate HR to do their job.

Edited to add that I just sent to our VP of HR for my current employer. I'm sure he appreciates my annual email about fund expense ratio matters . . . NOT! . . . but he does always give me the favor of a reply.