Rep. Miller (D-Ca) Says More Disclosure Needed On 401k Fees

[Omaha Steve]

http://www.laborradio.org/node/5421

Rep. Miller Says More Disclosure Needed On 401k Fees - 03/07/07

By Jesse Russell

The chairman of the House Education and Labor Committee is seeking clearer disclosure of hidden fees on 401K plans. Rep. George Miller of California said on Tuesday that “even seemingly small differences in the fees that workers pay can make an enormous difference in the overall size of their 401K.” Miller says that weak disclosure rules have led to most Americans not knowing what fees they are paying. U.S. workers have more than $2 trillion dollars invested in 401K plans.

AUDIO story here: http://www.laborradio.org/files/lo/winsheadlines.ram