Shining a Bright Light on a Dark 401(k) Secret

[babsbunny]

Shining a Bright Light on a Dark 401(k) Secret

http://www.huffingtonpost.com/dan-solin/shining-a-bright-light-on_b_162767.html

The existing 401(k) system is a scam far greater than anything Bernie Madoff could have conceived. His $50 billion Ponzi scheme is dwarfed by the $12 trillion 401(k) rip-off imposed on plan participants by their employers, and the mutual fund and insurance industries.

Until now, an objective evaluation of 401(k) plans has been extremely difficult because of the complexity of these plans and the cleverly hidden costs which would take a pension actuary to uncover. These excessive fees have dramatically reduced employees account balances. By some accounts, the combination of poor investment options, high expenses and poor planning have caused many plan participants to have a zero return on their 401(k) investments.

[dixiegrrrrl]

1. I have been yelling about that for years.

But did anyone listen?
Noooooooooooooooo.

"Never trust the advice of those who stand to profit from your decision."