How to Check In on Your 401(k) Fees

ProPublica reported on Thursday that the Department of Labor has proposed rules that would make it harder for employees to sue their employers over 401(k) management. The change is part of a push to encourage retirement plans to invest in private equity, real estate, and cryptocurrency, which can be complex and risky. Under the proposal, companies that document their reasoning when choosing investments would get the benefit of the doubt in court. ProPublica also offers guidance on checking your own plan's fees, noting that even a one percent difference in fees can shrink a nest egg by twenty-eight percent by retirement. The new rules are expected to be finalized this year, and ProPublica is asking the public to share their annual 401(k) disclosures to understand what people are actually paying.

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