Getting a Better Deal in Your 401(k) Plan
Companies that manage 401(k) plans have been siphoning off billions of dollars through hidden fees and conflicts of interest:
- “I think 401(k) fees will eventually become like property taxes. Most people can tell you within $20 what they are paying in property taxes, and they fight any move to increase them. When people know what they are paying in 401(k) fees, they will become more vocal about trying to minimize that cost.”
- “The day that plan participants can see they are paying 3 to 5 percent in fees will change everything”
- “Some [401(k)] participants used to scream bloody murder because they didn’t know what they were paying; the twist is now they scream bloody murder because they think it’s too much”
Learn more in Laura Rowley’s article on Yahoo Finance: