Government Accountability Office

Hidden fees can slowly eat into your 401(k) returns, potentially robbing you of thousands of dollars in retirement savings. New disclosure forms are supposed to alert you to the presence of these hidden-fee time bombs.But are the forms working? Some financial advisers are skeptical.Robert Siegmann, chief operating officer and senior adviser at Financial Management Group in Cincinnati, says 401(k) participants are confused by the new forms and are bringing them into his office to ask for clarification."The clients have no idea what is being said," he says.A recent study by insurance industry researcher LIMRA indicates that Siegmann's patrons are not alone in their bewilderment.LIMRA found that 50% of participants in workplace retirement plans such as 401(k)s did not know how much they paid in fees and expenses after receiving the new notices. That is the same percentage who did not know the costs before they received the notices.Certified Financial Planner professional Joshua Itzoe says...

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