Caterpillar Inc. has reached a tentative settlement to pay $16.5 million in a case involving a dispute with employees and retirees regarding excessive 401(k) fees. With the current economy, investments are being looked at in a new light. Although Caterpillar maintains that it complies with ERISA, this litigation has been going on since September 2006. Can you imagine the legal fees? Do you know what the fee structure is for your 401(k) plan? Whether a participant or a provider, I think it is important for you to understand all the details!
For some basic, easy to understand information about 401(k) fees, check out: http://www.dol.gov/ebsa/publications/undrstndgrtrmnt.html
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