Photo Credit: ABCnews.com and AARP
Rules requiring disclosure of 401(k) fees are empowering workers to ask questions and make better retirement investment decisions, Assistant Secretary of Labor for Employee Benefits Security Phyllis Borzi told business and civic leaders in Boston last week. Borzi said the new rules will help workers and retirees “save more for tomorrow by paying less in 401(k) fees today.” The rules bring transparency to the true costs of 401(k) accounts and could benefit workers who encourage their employers to shop around for less expensive retirement plans. “What we want to do is help people become better informed,” said Borzi, noting that nearly 72 million Americans participate in a 401(k)-type plan
• Learn More About Retirement Plan Fees
• Contact an EBSA Benefits Advisor
Source: U.S. Department of Labor
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Infographic: The Hidden fees on your 401k – BusinessInsider.com
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