Editing 401(k) (section)

===Fees===
401(k) plans charge fees for administrative services, record-keeping services, investment management services, and sometimes outside consulting services. They can be charged to the employer, the plan participants or to the plan itself and the fees can be allocated on a per participant basis, per plan, or as a percentage of the plan's assets. For 2011, the average total administrative and management fees on a 401(k) plan was 0.78 percent or approximately $250 per participant.<ref>{{cite web|url=http://www.ici.org/pdf/rpt_11_dc_401k_fee_study.pdf |title=Defined Contribution / 401(k) Fee Study | author=[[Deloitte Consulting LLP]] for the [[Investment Company Institute]] |date=November 2011}}</ref> However small businesses can suffer especially higher plan fees.<ref>[https://investment-fiduciary.com/2010/07/15/sucker-401k-plans/ Small Business 401k, Big Plan Fees! ]</ref> The United States Supreme Court ruled, in 2015, that plan administrators could be sued for excessive plan fees and expenses, in Tibble v. Edison International.<ref>{{cite web|url=http://www.scotusblog.com/2015/05/opinion-analysis-justices-confirm-continuing-duty-for-erisa-trustees-to-monitor-investments/|title=Opinion analysis: Justices confirm continuing duty for ERISA trustees to monitor investments|date=19 May 2015}}</ref>  In the Tibble case, the Supreme Court took strong issue with a large company placing plan investments in "retail" mutual fund shares as opposed to "institutional" class shares.<ref>{{Cite web |url=http://retirement-plan-lawyer.com/401k-plan-trustees-have-continuing-duty-to-monitor/ |title=Supreme Court Permits Cause of Action for Putting 401(k) Investments in Retail as Opposed to Institutional Shares |access-date=2015-08-06 |archive-url=https://web.archive.org/web/20160305181031/http://retirement-plan-lawyer.com/401k-plan-trustees-have-continuing-duty-to-monitor/ |archive-date=2016-03-05 |url-status=usurped }}</ref>