Published: April 22, 2009 on ChicagoTribune.comBy: Gail MarksJarvis
It seems 401(k) plans are being hauled out by Congress for a public stoning.
It’s the catharsis many Americans need after losing an estimated $600 billion in 401(k) plans in the worst bear market since the Depression.
The huge drop in the stock market has focused congressional attention on practices within some 401(k) plans—practices that can cause people to pay excessive fees and that subject workers to investment choices that are not always in their best interest.
The market downturn has highlighted the fact that many Americans are not educated adequately about investment decisions and fumble mutual fund choices.
