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Compass
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Regional Vice President of Sales The Retirement Plan Company
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Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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Text of Pension Rights Center's Criticism of U.S. Chamber's White Paper on the Private Retirement Plan System
Pension Rights Center [Opinion] Apr. 24, 2012 "Like the Chamber, the Center is committed to financial literacy, but financial literacy is not just teaching people about compound interest and asset allocation. It is also about empowering employees and retirees by providing them with timely and plain-English information that helps them understand the terms of their plan the amount of benefits they have earned and how much they are paying in administrative and investment management fees. Hence, [the Center finds] it a bit of a contradiction that the Chamber recommends greater financial education, while at the same time advocating for the reduction or elimination of information -- such as quarterly statements in 401(k) plans -- that is necessary for people to be financially literate." |
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