401k fees can significantly cut into the amount of money that you have available for investing and retirement. There are many different types of fees that you could be charged for having a 401k. Here are some of the little-known fees that may cost you.

1. Record Keeping

One of the fees that you might be charged is a record keeping fee. This is a fee to cover the costs of keep track of transactions in the 401k account. Some 401k's charge this fee and some do not.

2. Investment Advisory Fee

Another fee that you might be charged is the investment advisory fee. With this particular fee, you will be charged a percentage of the balance in your account. This fee is designed to cover the salary of the investment adviser that handles your particular account.

3. Trustee

The trustee is the individual that is in charge of making the payments and contributions for the 401k. They may charge you a fee to cover these administrative processes.

4. 12b-1 Fees

12b-1 fees are also sometimes referred to as distribution fees. These fees are charged by mutual funds that you may invest in through the 401k. These fees pay for the advertising and distribution costs of the mutual funds.

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