Monday, April 16, 2007
Regulators Urge Clearer Fee Disclosure. Costs of Managing Retirement Portfolio Often Obscured, Eating Up Savings of Workers
In an era of do-it-yourself retirement planning, workers often are hobbled by a lack of clear information on their investments and the fees they are charged to manage them.
Those fees can eat away tens of thousands of dollars over time. Now, federal regulators are seeking to toughen disclosure rules and devise a single standard for a wide variety of investments and retirement plans.
Saying current disclosures often are "missing the mark by a country mile," Securities and Exchange Commission Chairman Christopher Cox said his agency would seek new rules that would force mutual funds, insurance companies and others to more clearly detail the cost and performance of investment funds and retirement plans.
Regulators Urge Clearer Fee Disclosure. Costs of Managing Retirement Portfolio Often Obscured, Eating Up Savings of Workers
Source: Chicago Tribune
Those fees can eat away tens of thousands of dollars over time. Now, federal regulators are seeking to toughen disclosure rules and devise a single standard for a wide variety of investments and retirement plans.
Saying current disclosures often are "missing the mark by a country mile," Securities and Exchange Commission Chairman Christopher Cox said his agency would seek new rules that would force mutual funds, insurance companies and others to more clearly detail the cost and performance of investment funds and retirement plans.
Regulators Urge Clearer Fee Disclosure. Costs of Managing Retirement Portfolio Often Obscured, Eating Up Savings of Workers
Source: Chicago Tribune
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