Everyone should pay very special attention to their next 401(k) investment statement. It is impossible to know how much we pay in fees in many 401(k) plans. But, new rules issued by the Labor Department will require 401(k) plans to disclose costs for the first time no later than August 30, 2012.
Tip of the hat: Srini Krishnamurthy at NC State.
The number of hidden fees in these retirement plans are astounding. The plans run the gamut - some seem to have low fees and are designed for the employees, whilst others are a joke.
ReplyDeleteI think this is like a UK ISA, and ISAs' certainly leak like crazy!
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