The cost of investing in a 401(k) plan dropped again in 2014, according to the Investment Company Institute.

Specifically, fees on what a report by the ICI calls "long-term mutual funds," which include equity, fixed-income, and hybrid allocations, were cheaper last year than in 2013, continuing a trend the trade group has tracked since 2000.

Much of the cost efficiencies participants are experiencing are owed to continued and wider adoption of lower-cost funds.

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Nick Thornton

Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.