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Released: January 18, 2012
Options for 401(k) plans get more affordable
Source: Christine Dugas, USA Today
As employers prepare for new federal rules requiring them to explain how fees affect 401(k) returns, industry providers are rolling out better, lower-cost plans.
The Department of Labor rule “is a big driver of change,” says Mike Alfred, CEO of BrightScope, a provider of independent retirement plan ratings and investment research. “Everyone recognizes that fees will be under the microscope.”
The new plans are aimed at helping small and midsize employers, which in the past have been unable to offer their workers the lowest-cost plans. Their workers make up 43% of all plan participants, according to BrightScope.
Read Full Article: Options for 401(k) plans get more affordable
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