401(k) investors and sponsors are likely to stand up and take notice of the fees that will be clearly presented to them in April, particularly the fact that investors pay most of the administration fees. These administration fees, or expense ratios, cover not just fund management but also recordkeeping, auditing and broker commissions.

And fund companies are worried these disclosures, as required by the Department of Labor, will “open up a can of worms,” particularly at a time when the market has been so volatile, Louis Harvey, president of Dalbar, told the Houston Chronicle.

“Employers don’t really know about the fees, and it’s not in the best interest in the service providers to make it crystal clear,” Harvey added.