GAO Warns That Many 401(k) Participants Don’t Understand Fee Disclosures

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The U.S. Department of Labor (DOL) requires 401(k) retirement plans to provide participants with information on the fees charged for plan administration and investment-fund management, as even small fees can significantly reduce retirement savings over the long term. The Government Accountability Office (GAO), however, found that 40 percent of 401(k) participants don’t fully understand fee information.

The report, 401(k) Retirement Plans: Many Participants Do Not Understand Fee In

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