Search

The next time you receive your 401(k) statement, do this experiment: don't just look at your latest balance. Try to figure how much you're paying in fees. It's not necessarily easy, right? If you're lucky to work at a large company that uses a big 401(k) provider like, say, Vanguard, the fees you pay may not require much decoding. But for many workers, particularly those at medium and small companies, coming up with a figure could involve a phone call or two, wading through a fair bit of paper and fumbling for a calculator once you have it all in place. [ABSTRACT FROM PUBLISHER]

The article reports that research institutes the Heritage Foundation and the Retirement Security Project has proposed a plan that would allow small-business employees to fund individual retirement accounts through automatic payroll deductions.