Phyllis Borzi, assistant secretary of labor for EBSA, distributed a statement for 401(k) participants this week, encouraging them to more actively take part in (and keep an eye on the fees associated with) their retirement savings efforts:
October 21-27 is National Save for Retirement Week and this is a great time to stop and assess your retirement goals and savings strategy, and to see where you are by checking your retirement benefit statements.
By now you and the nearly 72 million American workers in 401(k) type plans across the country may have received a very important document in the mail from your employer. This document concerns your 401(k) account, and the fees you pay for it.
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