The House Education and Labor Committee today announced it will hold a long-anticipated hearing on 401(k) fees on March 6. The hearing will look into "whether hidden fees on 401(k) plans are eating into workers' retirement savings," according to a statement.
"Even seemingly small differences in fees over the years can have a large effect on the size of retirees' 401(k) balances," the statement said. "With Americans increasingly relying on 401(k) plans to help finance their golden years, it is critical that they have accurate and clear information to help them make the best savings and investment decisions."
The committee statement did not include a witness list.