As a participant of your company’s California 401K retirement plan, it is your responsibility to monitor and look into the operating fees of your 401k plan. Many employers outsource the responsibilities of managing and selecting the investment options you have in your 401K Plan. Consequently, some management companies have revenue sharing arrangements with the funds and investments tools that they select for your plan because they stand to make additional money that is not disclosed to you. These hidden revenue sharing arrangement are taken out of your earnings and can cost you thousands of dollars through the life of your investment.
Retirement management companies and fund companies have been making a ton of money off of these excessive fees and in most cases your employer doesn’t even know about it.
So get a copy of your 401k plan, and look over your investments and the funds that you are participate in and find out how much you are paying for their services and how those excessive fees are getting paid. If the money is coming out of your future retirement earnings then you have rights.
These arrangements are complex and complicated. I would recommend that you have a California 401k attorney look over your documents. In some cases, it wouldn’t cost you anything for a consultation. If a violation is identified then you stand to gain monetary damages, if successful.