Schwab, like other 401(k) providers, found efforts to educate employees haven’t proven so successful — and only 10% of workers take advantage of such offerings. So the company just announced a new index-fund-only 401(k), which will keep expenses down, and include mandatory advice on investments. “Many employees don’t understand what they are losing to expenses — sometimes 55 to 110 basis points,” says Jim McCool, an executive vice president at Schwab. “They don’t realize what a drag it is on their retirement savings.

Secrets of the 401(k) Millionaires - SmartMoney.com