I kinda feel like an idiot asking this question, but here goes:
Even though we don't change jobs a lot (well it doesn't seem like a lot to me), my wife and I find ourselves with a number of different 401k and 403b accounts from previous employers.
When I read financial advice columns, there is frequently a suggestion to roll these over into an account not associated with the previous employer. They say that there will be lower fees if I make such a move, and more investment options. The investment options part is true, but for many of the things I'm invested in the fees don't seem to be different.
Does this really matter for most people? Do other folks find that they can markedly reduce their fee structure be rolling over? Am I misunderstanding something about the fees?