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Fidelity 401(k) Price-Fixing Scheme Cost Retirement Savers Plenty
Forbes; subscription may be required
[Opinion] Sept. 12, 2012
"Anyone who believes that the marketplace for 401(k) plan services has been competitive over the past three decades or that there have not been widespread systemic abuses in the retirement savings industry, should study closely what Fidelity admits it did for four years from 2004 through 2008 -- until Forbes drew attention to the practice and Fidelity relented. By the way, it is likely that Fidelity was not alone in these practices and that they may continue at other 401(k) administrators."
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