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DOL Helps You Keep an Eye on the Fees That Can Eat Away at Your 401(k)

"No matter how generous your employer is in helping you save for the future, your retirement plan isn't free -- you're paying for it -- and as a consumer you're entitled to know what you're being charged. Our new rules are designed to increase transparency and ensure your hard-earned savings are not diminished by hidden costs and excessive fees."

The Retirement Equity Act and Beyond

"Women have made enormous strides over the past three decades, in the workplace and beyond -- and it's important to reflect on the men and women who fought for the changes that have led to greater gender equality. One of those changes was introduced 29 years ago: The Retirement Equity Act became law, ushering in important protections for America's workers and their families.... The act lowered the minimum age requirement for pension plan participation, it prevented plans from penalizing parents who took time off to raise families, it allowed pension plans to make court-ordered payments to former spouses and it mandated spousal consent for workers to waive survivor benefits. In short, it began to recognize the working patterns of women, who remain more likely to interrupt their careers to take care of a family member, and provided greater retirement protection for women throughout the country."

Is Your (Financial) Relationship on the Rocks?

"[W]orkers can take some responsibility for their own protection by learning the warning signs of benefits abuse: [1] Your 401(k) or individual account statement is consistently late or comes at irregular intervals. [2] Your account balance does not appear to be accurate. [3] Your employer failed to transmit your contribution to the plan on a timely basis -- or at all. [4] Investments listed on your statement are not what you authorized. [5] Frequent and unexplained changes in investment managers or consultants.... [W]hat should you do if you suspect your 401(k) isn't working for you? A good first step is to contact your employer or the plan administrator and request an explanation -- or a correction."

ERISA: 40 and Counting

"Over the past 40 years, more and more of America's workers have switched from traditional pensions to 401(k)s and similar plans. With the rise of these defined contribution plans, America's workers have had to take on the responsibility and the risk of saving, investing and managing their own money. This means more options, more complexity and more responsibility for those workers, and makes it even more important for us to help ensure financial literacy for those workers."