Retirement Plans Are Among the Fee-Stricken
There are some easy ways to fix the worst problems in 401(k) plans. So why not?
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Defined contribution plans -- American workers’ golden road to retirement -- are on the defensive. A mountain of class-action lawsuits is piling up against a who’s who of blue-chip companies and prestigious universities, accusing them of failing to look out for participants in their 401(k) and 403(b) plans.
The air is already thick with obligatory denials and earnest concerns for employees’ futures. But there’s no getting around the fact that employer-sponsored retirement plans are horribly broken.