Big changes coming, in July
FromCynthia Scott of OMC Financial:
NEW 401k/403b rules will help employers and employees make better investment choices.
~Right now, fees for retirement plans are not required to be disclosed to employers or contributing workers.
~Starting July 1st, sponsors (like Vanguard, American Funds, Fidelity, etc) will have to tell employers the fees associated with their plans.
~Participants (workers) won't get those notifications until their third quarter statements (typically in October)
~Fees should be one consideration in picking a plan, but there are other factors--which we'll discuss next week!
