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Why Isn't 401(k) Fee Disclosure Working?
Fiduciary News; free registration requiredLink to more items from this source
Apr. 7, 2015
"Beyond apathy ... is the lack of user-friendliness when it comes to the disclosure documents.... Even if the plan participant is brave enough to dive into those many pages, they may not be properly equipped to discern the true meaning of all those numbers.... The 401k industry takes great care to push automatic features.... While there may be definite benefits to using inertia to benefit the savings behavior of the participant, it could also inadvertently be disengaging the individual.... If there's a problem of financial literacy on the employee end of the equation, then there may be a problem of fiduciary literacy on the employer's end.... Who needs fee disclosure when you have Jerry Schlichter?"

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