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My point is there are no way to tell who pays what since the TPA/other fees are not disclosed.

Neither ziggy nor I disagree with you that there could be hidden fees in some 401k plans. You seem to imply that they are in all plans. Since you're the financial planning guru that posts the Garrett network all the time, maybe you can enlighten us more than a few snippets from a congressional hearing and some hand waving.

Suppose I move to a new employer and start a 401k plan with a $1000 investment in fund ABC. I invest an identical amount in fund ABC in a new taxable account at the same time. The return for the year on the invest is 10%. Both accounts have $1100 in them. Where are the hidden fees?

I've already posted that I've had a previous 401k where the mutual funds available were only available through the 401k. I couldn't buy them on the open market. In that case, I could see someone calling it hidden fees since the expenses may be higher.

But in the case where a 401k uses readily available mutual funds on the open market and does not charge a maintenance fee, where is the 401k plan hiding the fees?

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