SCOTTSDALE, Ariz., Sept. 9, 2016 /PRNewswire/ -- ItsYourMoney.com launched today, on National 401(k) Day, to educate consumers on the true cost of hidden fees in retirement plans. The site, www.itsyourmoney.com, is powered by America's Best 401k, which offers lower-cost alternatives to the retirement plans provided by insurance, payroll and brokerage firms.
"Most hardworking Americans who contribute to a workplace retirement plan are unaware that they may be paying several different layers of fees, which directly subtract from their investment returns," said Tom Zgainer, CEO and founder, America's Best 401k. "The reality is that these fees often include layers of commissions and kickbacks to the plan providers and brokers at the expense of those investing in the plan. The erosive effect is disastrous for the future of Americans who are hoping their money will sustain them through their golden years."
ItsYourMoney.com delivers clear, actionable information to help business owners and retirement plan participants understand how much they are paying in hidden fees and how much those fees can impact their futures. Visitors to the site will find videos, infographics and other straightforward tools for evaluating their retirement plans, including a fee-checker that allows users to determine exactly how much their retirement plan is costing them in fees. In addition, ItsYourMoney.com provides specific examples that illustrate and compare the real-life fees charged by a number of well-known providers in the industry.
Egregious 401(k) plan fees recently generated attention in the media when John Oliver, host of HBO's Last Week Tonight, blasted the industry in a segment on his show, which has since garnered millions of views on YouTube: https://youtu.be/gvZSpET11ZY. In addition, a growing list of 401(k) providers have been sued by their employees for excessive fees in their own 401(k) plans.
"ItsYourMoney.com clearly spells out just how the 401(k) industry is extracting excessive fees and creating what is an insurmountable headwind for people to get ahead. We want to show business owners and plan participants what their plans are really costing them in terms of their future retirement goals," said Mr. Zgainer. "Transparency and increased awareness is the first step toward empowering Americans to rescue their retirement plans."
For media inquiries, please contact Terri Kayden, JConnelly, at 973-850-7310 or email@example.com.
About America's Best 401k
America's Best 401k is one the most disruptive solutions in the retirement planning space. We remember what most plan providers have seemingly forgotten: that the money in 401(k), 403(b) and defined benefits plans is the possession of real people—people with families—who deserve to experience the benefits of the money they have had the discipline to sock away. America's Best 401k offers plan sponsors and participants freedom from expensive 401k plans and underperforming investment options. For more information, visit americasbest401k.com.
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SOURCE America’s Best 401k