See, I somehow sent my message before I was finished. Told you I'm not a regular contributor ;-) Anyway, the point of this study is that this seemingly well-educated/financially savvy/intelligent group did NOT get the message the impact of fees (they did not generally pick the low-fee funds, which is what they should have done.)
The story went on to say that change will probably take a generation. In the short term, the government could move to putting the most important info in a standardized, easy to understand form (the comparison was to the nutrition info we get on any food in the supermarket). The other effective means was to educate plan managers first, since that would have the biggest impact in the short term. It would be much faster to educate this smaller group, who would then help educate the employees they serve.
The average investor NEEDS discussions like this one.