A recent Reuters article discussed advisers' ability to recoup a portion of the billions of dollars in fee waivers they've made to money market funds over the last several years.  Many fee waiver arrangements permit an adviser to recoup the amount they waived or reimbursed to a fund if expense ratios decrease over the following few years.  The article states that funds are warning investors of this "recoupment risk" which could negatively affect a fund's future yield.  Peter Crane, president of Crane Data LLC, is cited as saying that fee recapture won't be an issue until the Fed Funds rate is increased to 0.50% which could be anywhere from mid-2013 to early 2014.