Lawmakers Rail Against Hidden Pension Fees

Law360, New York (March 6, 2007, 12:00 AM EST) -- Legislators and pension experts have urged the government to mandate better disclosure of hidden fees that eat away at U.S. workers’ retirement nest eggs.

U.S. employees are ill-informed about these fees that shave off investment returns from their 401(k) retirement plans, said Rep. George Miller, chair of the House of Representatives Education and Labor Committee, at a committee hearing on Tuesday.

Miller, D-Calif., asked whether the slew of fees, including wrap fees, finders’ fees, surrender charges and 21(b)(1) fees, were necessary and worried they were undermining...
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