Here's a trivia question you might get wrong based on the flurry of media articles on the follies of 401(k) plans we've seen this summer: What's the biggest problem with 401(k) plans? Based on what we've seen in both the professional and the popular press, you might think the answer is "fees."
It's not.
For all the spilled ink and popped pixels, fees are not the biggest concern many "in the know" folks have with 401(k) plans. It's also not the lack of an annuity option, unless, of course, you happen to make a living selling annuity options. For that matter, it's not poor investment decisions (although we certainly do have a fair share of those).
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