New 401K fees
CHARLOTTE, NC (WBTV) - Passed by Congress in November 2010, the new law that takes effect in April 2012 will require transparency in 401k fees charged to the consumer – specifically the costs of administering each 401k, or "asset-based fees."
Currently, many of these costs are buried in complicated statements or hidden completely. The new regulations require that the costs are prominently displayed on each statement.
Judson Gee, Managing Partner of JHG Financial Advisors in Charlotte, visited WBTV News Saturday Morning to talk about the changes and what each of us with a 401K needs to know.
Copyright 2012 WBTV. All rights reserved.