401k fees

Retirement Gamble: Wake-Up Call on 401(k) Fees

Posted on 04/24/2013 by | AARP Blog Author | Comments

Money & Savings | WorkWorried about how you’re going to pay for retirement? Join the club. A PBS Frontline documentary called The Retirement Gamble shows that you’re in good company. The silver lining: a brighter spotlight on hidden fees, plus information to help make the most of whatever you can sock away. Kudos to journalist Martin Smith, who ‘fessed up to the common mistake of saving for his kids’ education at the expense of his own retirement security (more on why it’s okay – and …

Seven Easy Ways to Boost Your 401(k)

Posted on 02/18/2013 by | Money and Work | Comments

Bulletin Today | Money & Savings | WorkSadly, 401(k)  plans may not be the best vehicle to guarantee us a secure retirement that will last through the years. Too many variable factors — the market’s performance, the timing of  our retirement, the cost of our plan, our asset allocation and so on — can influence whether we’re able to save the sobering amount financial planners say we’ll need. By the looks of it, we’re in deep trouble. Financial advisers say we need to have saved eight to …

401(k) Fees No Longer Hidden (But Prepare To Be Shocked)

Posted on 06/28/2012 by | Money and Work | Comments

Bulletin Today | Money & Savings | WorkAre we getting suckered by 401(k) fees that are driving down our retirement savings? We’re about to find out. And the answer could be ugly. Beginning July 1, government rules go into effect that require service providers to clearly disclose for the first time the fees they charge to administer our 401(k) plans. We may not get the statements detailing those fees until August, however. Industry experts say that most of the 72 million 401(k) participants will be stunned because …

Thinking About Retirement Pays Off at Any Age

Posted on 06/6/2012 by | AARP Blog Author | Comments

Money & Savings | WorkWhen you hear the “R” word, what comes to mind? Your perspective on retirement planning depends on a lot of things, including your age bracket. If you’re 50+, you might say: “What retirement? My IRA has taken a huge hit, and now I’ll have to work way past 65.” Or, “I’m so behind I don’t even know where to start. I hope Social Security is there when I need it, but I’m worried.” A 40-something might say: “Retirement? We’re down …

The Takeaway: 401(k) Fees Reduce Savings by 30 Percent, Says Study

Posted on 05/31/2012 by | Brooklyn, NY | Comments

News RoundupsHmmm … 401(k) plans can help you save money for retirement, but they many also cost you more than you realize. According to a new study from research firm Demos, the average American couple pay nearly $155,000 in 401(k) fees in the course of building up their proverbial nest egg; wealthier couples could pay nearly $278,000. These fees can reduce 401(k) savings by an average of 30 percent.

401(k) Fee Rules Changes Coming This Summer

Posted on 04/23/2012 by | Money and Work | Comments

Bulletin Today | Money & Savings | WorkWorkers will be able to learn how much the fees for their 401(k) plans are draining from their accounts when new disclosure rules go into effect this summer. Beginning July 1, financial institutions that administer employer-sponsored defined contribution and pension plans will be required to disclose the fees and administrative costs they charge in a user-friendly format. The rules were initially scheduled to take effect this month but the U.S. Department of Labor delayed implementation from April to July to give …

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