As complaints continue to emerge that 401(k) plans offer both flimsy performance and, as is soon to be much more public knowledge, a range of expensive fees, the mutual fund industry is starting to blast back at critics.
According to the Los Angeles Times, ICI head Paul Schott Stevens told reporters Thursday that contemporary 401(k) design does much more to prepare retirees and protect their assets through turbulent economic times.
"The 401(k) fits the needs of American companies and workers, today and tomorrow," he said. "It's flexible and rapidly evolving to continue to meet those needs as our society and workforce change."
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
