One under-reported consequence of the COVID is its impact on American workers’ 401k retirement plans. There will be a permanent adverse effect on Americans’ financial future due to these premature withdrawals in the form of 401k loans and 401k hardships. COVID’s under-reported impact on 401ks has been a ten-fold increase… read more
Bloomberg Law reports that class action lawsuits concerning 401k fees have seen a five-fold increase in the past 12 months! The word is getting out that 401k fees skimmed from employees’ retirement savings are starting to bite, and financial advisors pocketing these fees feel the heat. We think this is … read more
Most 40k advisors and their plan administrator partners are continuously skimming fees from workers’ 401ks. Think it’s no big deal? The fees they skim are small? Think again.
401k “pick-pocketing” costs the average worker $150,000, skimmed from t401k savings after a lifetime of work.
Watch this 2-minute video—It’s worth many … read more
We have been in the 401k administration and recordkeeping business for over 30 years. We provide small businesses with affordable, quality 401k plans, and charge a fair price for services rendered. What we do NOT do is deduct 401k fees from the employees’ personal 401k assets. In 30 years in … read more
Are we being unduly harsh when we refer to 401(k) financial advisors and 401(k) providers as 401(k0 pick-pockets? I don’t think so, and here’s why:
Most 401(k) participants are unaware of the fact that fees are being deducted every quarter from their 401(k)-retirement savings. AARP has done an expose on … read more