Investor lawsuits forcing companies to disclose 401(k) fees
By David Pitt
Associated Press / July 21, 2010
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DES MOINES — Workers protesting fees paid out of their 401(k) accounts want to know what the money is used for, who gets it, and proof that the charges are justified. And they’re going to court to get the answers.
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This “fee” and kickback nonsense has been going on for decades. Let’s get the Gooferment out of retirement savings completely. Repeal the 401k / IRA laws. Then, either forget about the problem (Communist China has NO welfare or social security scams in case you are wondering why they save so much.) or require a tax for anyone, who has NOT purchased a inflation-adjusted retirement annuity equal to the poverty level for their zip code from a reputable insurance company, and buy one for them. Or be like the dreaded Chinese Communists, and just ignore the problem.
If we end the warfare / welfare state, then we’ll have growing thriving society with plenty of voluntary charity for the needy and “market discipline” for the lazy.
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