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2 responses to “401k Fee Disclosure One Year Later: What We’ve Learned”

  1. July 18, 2013 | The Morning Pulse

    [...] 401(k) Fee Disclosure One Year Later: What We’ve Learned [...]

  2. Beelzebozo

    The failure of fee disclosures has occurred on two fronts. The first is that mentioned in the article. Too many service providers have a vested interest in obscuring fees. The nature of many compensation arrangements is such that even good faith attempts to understand them often fail. However the second front, and perhaps the more important one, is with plan sponsors. Over the past two years my firm has done in-depth fee analysis for 100 plans. A vast majority of the time we show them point blank that their costs are not competitive for the services being provided. The sad fact is that most of them just don’t care. The root of the problem is that sponsors tend to be lazy, ignorant, incompetent, or corrupt. This is something that cannot be changed with top-down regulation.

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