DH has $58k in his previous employer's 401k account because there's about $3k that's not vested. If he ends up returning to that employer in the next few years, which is possible, although not probable, vesting would start again. We have it in Spartan 500 index fund (FXSIX) which has a .05 expense ratio.
A couple days ago I noticed a $15.50 fee removed from the account. We subsequently got a letter stating that there was now an administrative fee of $62/year, removed quarterly on 401k accounts for this employer, to every participant in the plan. Additionally, if we yank it now, the whole year's fee will be deducted from the proceeds. Thanks for letting us know. </sarcasm> The letter refers to a previous "communication", but we don't remember getting that (and it may have just gone out to employees instead of former ones, who knows).
Is this widespread and I've just been oblivious? We haven't decided what to do about this annoyance (and I realize that $62 out of $58k is just an annoyance), but I do wonder if anyone else has seen this from Fidelity.
Because we got charged unexpected fees when changing brokerages 10 years ago, I have a visceral reaction to fees, probably more than is useful. I know we can move a 401k to Vanguard without fees (except this lovely new one), but if we move this one, I'm going to want to move all our accounts to Vanguard as well (my Roth, his Roth, his tIRA, misc stocks) and they'll probably charge fees for each of those, too. Grouse, grouse, grouse.