Shed Light on Mystery 401(k) Fees, Says GAO…

February 2007
Journal of Financial Planning;Feb2007, Vol. 20 Issue 2, p12
Academic Journal
The article discusses hidden fees associated with 401K retirement plans. According to the Government Accountability Office, most 401K participants are unknowledgeable about the fees that they are paying in accordance with their retirement plans. The GAO is calling for Congress to amend the Employee Retirement Income Security Act of 1974 to require fuller disclosure. The author points out that right now plan participants must piece together data from obscure and hard to find documents to determine how much they are paying in fees. An example of how much the fees can impact a participant's account is included.


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