New 401-K rules to begin July 1
Posted at: 06/22/2012 3:38 PM
| Updated at: 06/22/2012 5:33 PM
By: WNYT Staff
People should also mark July 1 on your calendar if you have money in a 401-K.
New rules take effect on that day that require the companies that administer your retirement account to disclose their fees and administrative costs.
Those fees range from one to two percent of your balance. You can expect to see those fees listed in your third-quarter statement, which will arrive around Thanksgiving.