American workers increasingly rely on defined cont

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Retirement Savings: Better Information and Sponsor Guidance Could Improve Oversight and Reduce Fees for Participants

Our Price: $25.00

By Barbara D. Bovbjerg (au)
Year: 2009
Pages: 58
Binding Paperback

Product Code: 1437923879

Description

American workers increasingly rely on defined contribution (DC) plans like 401(k) plans and individual retirement accounts (IRA) for retirement income. Together with other DC plans -- 401(a), 403(b), and 457 plans -- these accounts hold about $7.1 trillion. As workers accrue earnings on their invest., they also pay a number of fees that may significantly decrease retirement savings. This report examined: (1) the types of fees charged to participants and invest. of various DC plans; (2) how DC plan sponsor actions affect participant fees; (3) how fee disclosure requirements vary; and (4) the effectiveness of DC plan oversight. The author reviewed laws and reg’s. and consulted with fed. officials, service providers, and 6 plan sponsors. Illus.

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