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The “Father of 401(k)s,” whose brainchild revolutionized retirement planning, has another gleam in his eye. Ted Benna wants five changes made to 401(k) plans, which would mean more workers participating in these programs and employees saving more for retirement.

What does he want to less of? High 401(k) fees, he tells our colleagues at our sister site, ThinkAdvisor, in the interview below.

For a start, Benna, 76, is worked up about advisors’ fees for helping employers pick funds as if they’re executing original work. He says that with half a million plans in existence, they’re only repeating what’s been done before.

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