Profit Sharing/401(k) Council of America has created a worksheet for employers to figure out fees charged by different service providers and assess which provider is the most cost-effective. The worksheet includes a detailed explanation and listing of the types of fees employers can expect to pay, and allows bottom-line comparisons between competing vendors.
The Labor Department, which reviewed the trade association's worksheet, offered suggestions that were incorporated in the final worksheet, said David Wray, president.
The worksheet can be downloaded from the Internet at www.psca.org.
National Association of Manufacturers, Washington, today announced plans to push for the privatization of the ailing Social Security system. The trade group is forming a coalition called the Mission of the Alliance for Worker Retirement Security, which will lobby for an overhaul of the Social Security system by letting working Americans set aside money in individual accounts invested in stocks and bonds.
``The mission of the alliance is to give workers the opportunity to create their own economic wealth - with no payroll tax increase - by investing in personal retirement accounts,'' NAM President Jerry J. Jasinowski wrote Rep. Dan Miller, R-Fla., yesterday.