Work announced WF would be changing the way they charge their fees. Going from "hidden fees" to a flat 0.12%. Now, as far as I can tell, the "hidden fees" they are referring to are covered in the expense ratio of a given fund. I asked if the new 0.12 would be on top of any expense ratios, but he couldn't answer that. According to plan documents any current fees that are charged should be listed in the account history, currently I have not been charged any fees directly.
I feel like they are disguising this as a transition from "hidden fees" to a flat fee, when in reality it's an extra 0.12% they will be charging me. Overall it's a very small amount, but the way WF sold it just seemed shady.
Am I way off base or does anyone have experience with plan administration?