Reviewing your 401(k) fees can have several significant benefits:

1. Cost Savings: Over time, even small fees can add up and significantly impact your retirement savings. By identifying and reducing high fees, you can save a substantial amount of money. For example, a 0.5% reduction in fees on a $5 million plan could save $25,000 per year.
2. Improved Returns: Lower fees mean more of your money stays invested, potentially leading to higher returns over the long term.
3. Transparency and Awareness: Regularly reviewing your fees helps you stay informed about where your money is going and ensures that you are not overpaying for services.
4. Compliance and Fiduciary Responsibility: For employers, reviewing 401(k) fees is part of their fiduciary duty to ensure that plan expenses are reasonable and in the best interest of the participants.
5. Better Investment Choices: By understanding the fees associated with different investment options, you can make more informed decisions that align with your financial goals.

Have you reviewed your 401(k) fees recently? If not, it might be a good time to start!