Absolutely!! No matter who you are; sponsor, employee, or adviser. Get in there and find out what that 401(k) plan is paying. Every long-term investor needs two things to be successful, time and rate of return.
With the new fee disclosure legislation in affect as of last year it is much easer to get your hands on the information you need. However understanding that information maybe another story depending on your level of experience.
I would go to (www.401khelpcenter.com/cw/cw_planfees.html#.UhwpueBe2Ad) to learn more about the fee disclosure rules. From there, talk with an expert that you trust and go over your numbers. But I would insure that you keep in mind what services is being provided when you look at your cost.
Before you say your plan is too much and you try to change it, make sure your services are lacking also. For example, if the only person you have ever talked to about your 401(k) is the HR person than I would ask, “is there an adviser being paid but never here?”