How to Take Advantage of New 401(k) Fee Disclosures (U.S. News & World Report)

Beginning after May 31, 2012, 401(k) participants will receive quarterly statements showing the dollar amount of fees and expenses deducted from their account and a description of what each charge is for. The numbers could shock some participants according to a new AARP study, which found that 71% of 401(k) participants think they don't pay any 401(k) fees at all. 

The move to fee disclosure will give consumers several opportunities to reduce the costs of retirement investments, including switching to lower-cost investments, boosting returns, asking for better options, and ensuring that consumers actually receive and use the services they're paying for.

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