The market correction this week is going to do what all market corrections and crashes do, put a light and heat on the 401(k) industry. I\u2019ve already seen articles calling the 401(k) a 101(k).<\/p>\n
One of the reasons we got fee disclosure regulation was because of the spotlight on high fees because of people losing money in their 401(k) plans. When we were all making money in the market in the late 1990\u2019s, none of us were harping or even caring about 401(k) fees.<\/p>\n
Plan participants and the media only seem to care about 401(k) plans when the markets go south. It\u2019s human nature. People like to complain and place blame when they lose money and they don\u2019t complain when they make money.<\/p>\n
Hopefully, the markets will rebound. If not, we\u2019ll hear again how bad 401(k) plans are. It\u2019s life and this is the life we chose when we became part of the retirement plan industry.<\/p>\n
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