401(k) fees

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New rules by the Department of Labor took effect Sunday July 1 that require your employer to fully disclose all of the fees you pay in your401(k) retirement account.  These disclosures will be sent to you by the end of August, then annually thereafter.  This rule has been around for several years, but has been delayed multiple times because the 401(k) providers lobbied the DOL for more time because they could not decipher all the fees that you had to ...

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Retirement plans and fiduciary responsibilities

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One of the “hot button” issues with retirement plans is the Department of Labor (DOL) plan to label people that provide services to an employee retirement plan as Fiduciaries.  In short, this means that the service providers must put the needs of the plan participants ahead of their own need.  Below is my comment letter sent to the DOL earlier today in full support of making those service providers subject to a very strong fiduciary standard.  The letter is not ...

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