I noticed that fees were taken out in April and again in July. Why is this happening, I don't recall seeing any mention of this.
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There was federal law enacted where fees have to be isolated and identified not bundled. It is supposed to level the playing field for all investment cos and plans. Nothing illegal or odd, just new and different.
If you are referring to the XBS 401k, I noticed that as well and when I asked about it, I was reminded that a letter was mailed the end of 2019 saying they were changing funds or something like that and now the fees will show on the statements instead of being embedded in funds. It looked like junk mail so I didn’t read it when it was mailed. In other words, we have always paid fees, per the fee schedule but it wasn’t as obvious because it was embedded in the funds.