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It has been discovered that many company-sponsored mutual funds in typical 401 plans are overcharging participants and burying those charges in the fine print
USA Today (Society for the Advancement of Education), April, 2007
It has been discovered that many company-sponsored mutual funds in typical 401(k) plans are overcharging participants and burying those charges in the fine print. Since no bills or checks are written, few complaints ever get registered. However, Caterpillar is being sued in a large class action for excessive fees in 401(k) accounts.
"Many boomers put their retirement money in mutual funds, not realizing they are paying high escalating fees and not knowing less than 20% of these funds ever beat the S&P," points out Don Wilkinson, author of Stop Wasting Your Wealth in Mutual Funds ... Separately Managed Accounts: The Smart Alternative.
COPYRIGHT 2007 Society for the Advancement of Education
COPYRIGHT 2008 Gale, Cengage Learning
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