Why the 401(k) Industry Needs Reform Right Now | ETF Trends: "The criticism of the 401(k) industry is getting louder and harder to ignore, and even Congress is paying attention. Rep. George Miller has a schedule of reforms that many investors and experts would like to see implemented. Rep. Miller is taking the mutual fund industry to task over their hand in the decimation of many individual investors’ portfolios, and this could solidify the case for ETFs to enter into this investment arena once and for all.
There are two big issues here: extremely poor fee disclosure and a lack of good education. Rep. Miller is working hard to take on this issue on both fronts.
This Sunday’s 60 Minutes focused on the need for more reform within the 401(k) industry. Watch it at CBS’s website."
Thursday, April 23, 2009
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