From Bloomberg.com, “Is Your Retirement Plan Gouging You on Fees?”
If lawmakers and the U.S. Securities and Exchange Commission want to know how mutual fund costs are hurting future retirees, they should talk to Adrian Nenu. . . Nenu wanted to be informed on his retirement options, so he started calculating what various plan choices were costing him. . . “I felt a sense of outrage when I found out how much I was being charged, especially when the total fees charged by the four vendors were nearly identical and there was no low-fee vendor to escape to,” Nenu said.
From Reuters via Forbes.com, “US Senate’s Frist wants pension bill this week“:
The majority leader of the U.S. Senate wants to pass pension legislation this week that would save U.S. companies more than $80 billion over two years and has already cleared the House of Representatives. “I want to act on the pension bill this week,” Sen. Bill Frist, a Tennessee Republican, told the Senate on Monday. . . Republicans think Kennedy would have trouble rallying the votes he needs to defeat the measure. Many senators of both parties have companies in their states who want the billions of dollars of aid in the bill.