Are 401(k) Plans For The Benefit Of Workers Or Wall Street?
An article came out in SmartMoney last week which highlighted the massive amount of fees that gets generated from 401(k) plans with minimal visibility to the plan participants. The article was titled, “The Big Business of 401k Plans” by Ian Salisbury and poked holes in the current 401(k) system by opening consumers eyes to the billions of dollars in annual fees that these investment banks are making off of them. Don’t get me wrong, the banks should make money and turn a profit. That is...
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