Private Pensions: Changes Needed to Provide 401(k) Plan Participants and the Department of Labor Better Information on Fees

[摘要] A letter report issued by the Government Accountability Office with an abstract that begins "American workers are increasingly relying on 401(k) plans, which allow pre-tax contributions to individual accounts, for their retirement income. As workers accrue earnings on their investments, they also pay a number of fees that may significantly decrease their retirement savings. Because of concerns about the effects of fees on participants' retirement savings, GAO examined (1) the types of fees associated with 401(k) plans and who pays these fees, (2) how information on fees is disclosed to plan participants, and (3) how the Department of Labor (Labor) oversees plan fees and certain business arrangements. GAO reviewed industry surveys on fees and interviewed Labor officials and pension professionals about disclosure and reporting practices."

[发布日期] 2006-11-16 [发布机构] United States. Government Accountability Office.

[关键词] Government accountability -- United States.;retirement security;private pensions;letter report