I'm looking at my most recent Account Statement from a previous employer's 401k.
There's a lil table on the first page with the opening balance, the range of dates that pertain to the statement, how many deposits, withdrawals, Fees/Expenses and Gains/Loses. The Fees/Expenses is listed as $0.00
Later in the statement is a caveat...
Your Fee and Expense Details You didn't have any transaction fees or expenses deducted from your account during this period. However, some of the plan's administrative expenses for the period may have been paid from fees from one or more of the plan's investment funds. These expenses are included in the expense ratio (total annual operating expenses) provided in the applicable investment fund disclosures.
I browsed a handful of prior statements, even during the time I was employed with the former company, and they all list Fees/Expenses $0.00.
Is there a way to convert that expense ratio with my account balance into effective dollars paid as if there were a direct fee?
What's the motivation behind this payment strategy, seems to just obscure things, but maybe it simplifies things? What's the deal here?
