What You Don’t Know About the SEC’s New 401(k) Rulings

Santa Fe, New Mexico — Just as the SEC prepares to issue new rulings so that the fees employees pay in their 401(k)’s are disclosed better, New York Times best-selling author and Bank on Yourself founder Pamela Yellen has teamed up with Pulitzer Prize-nominated journalist Dean Rotbart to write a shocking expose on the effect the SEC’s new rulings will have on investors.

According to Yellen and Rotbart, what the new rulings don’t do is reduce fees associated with the 401(k)’s “which can easily take a 40% bite out of your savings!” Yellen and Rotbart go on to add that “more than 15 million ‘zombie investors’ unwittingly allow others to feed off their retirement savings and the number of these investors is marching in an upward trajectory.”

The march has been fueled by government regulators, Wall Street executives, financial planners and media commentators who regularly opine that only by delegating the task of retirement investment to others can individuals assure the optimal long-term preservation and appreciation of their nest eggs. Thus the SEC and the Department of Labor have instructed employers to offer their workers a variety of defined contribution retirement plans, most commonly 401(k)s, “designed to make it easier for investors” to avoid the headaches and inherent risks of managing their own retirement monies.

Yellen says, “Such full-faith reliance on administrators and funds managers is propagating gargantuan portfolio losses that could billow to hundreds of billions of dollars during the lifetimes of the current generation of U.S. workers.”

She continues: “But what wage-earners have yet to comprehend is that many of the personal retirement accounts they are paying into annually at work will – regardless of how the markets perform over the coming decades – stealthily bleed each employee of tens of thousands, even hundreds of thousands of dollars that could remain theirs.”

To read Yellen and Rotbart’s full expose on the SEC’s new rulings visit: http://www.bankonyourself.com/more-than-15-million-zombie-investors-unwittingly-allow-others-to-feed-off-their-retirement-savings.html?utm_source=online&utm_medium=pr&utm_campaign=coverstory.

Bank On Yourself founder, Pamela Yellen, has dedicated her life to helping people from all walks of life understand this method, so they can use it to achieve their financial goals and dreams.

Bank On Yourself
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Santa Fe NM 87501-1681

This release was published on openPR.