Bloomberg Expose: The Truth Behind Hidden Fees in 401(k) Plans

Here is an expose by Bloomberg on hidden fees in 401k accounts. Remember, most 403b plans have even higher expenses. This report mentions one 403b plan, Value Builder offered by the NEA, that carried an incredible worst-case fee of 12.17%! "Value Builder?", for who the union and the annuity salesmen?! What a disgrace.

The NEA's rebuttal:

"It's hard to deliver a program like this with a low fee because there are comminsions paid to agents."

So much for a union looking out for its members. Listen to the whole show; it could literally save you a million dollars.