The House of Representatives passed legislation that would bring substantial changes to the U.S. retirement system, making it easier for employers to offer 401(k)-type plans and include annuities, which guarantee an annual income, as options for workers. Backed by a bipartisan group of lawmakers including Rep. Richard Neal (D., Mass.), chairman of the House Ways… Continue reading House Passes Bill Making Big Changes to U.S. Retirement System
Tag: 401(k) fees
A New Fight Breaks Out Over 401(k) Fees
Investors have reaped big savings as fees have fallen in 401(k)-style retirement plans. But two recent lawsuits have claimed some financial-services companies tried to generate revenue beyond traditional administrative fees, sometimes at consumers’ expense. One recently settled lawsuit contended employers should have protected employees from plan administrators using their information to sell them products. Companies… Continue reading A New Fight Breaks Out Over 401(k) Fees