Why SocSec and Public Pensions Need Support - NPR 401(k) Fees Can Shave Thousands From Nest Egg

Everyone should have access to a "public pension" system. They are far more efficient in terms of cost and an individuals effort to manage a 401K (etc.).  The NPR story of course uses a $100K balance ... everybody has that much ... right!

But most of those plans have fees and hidden expenses. And as personal finance columnist Ron Lieber of The New York Times tells NPR's Linda Wertheimer, those fees can mean that an investor pays more than $1,000 annually.

... "The problem is, if you're losing that much money each year, over time, and you're investing over many decades in these funds, it's a lot of money to be losing each year," Lieber says. "I mean, it's $1,500 out of a $100,000 balance each year."

Those losses add up. Over several decades, an investor could pay more than $100,000 in fees by the time retirement arrives. Federal law says that such fees have to be "reasonable," Lieber says. But most investors have no point of comparison to know where to draw the line.

Hear the NPR story by clicking on the title above.

WI 1848 Forward: #SocSec & Public #Pensions Need Support - #NPR #401(k) Fees Shave Thousands From Nest Egg #47% #AARP

WI - Reprise from 3/17/11 - #NPR an Ideological Target! Why? - #ALEC #NRA - #Cronon

On March 17th when this note (my blog) was originally posted Professor Cronon (UW - Madison) had just posted his note (3/15) about how we should all be "educating" ourselves about how our democracy works.  I had visited his blog on 3/16 and was reminded of ALEC (American Legislative Exchange Council) but not much more.  ALEC had not yet in and of it self become a "hot topic" even with Professor Cronon's blog.  This seems to have changed with the FOIA request by the Wisconsin Republican Party of Professor Cronon's UW-Madison emails.

Going back to 3/17:  Sometime later, again in following the news, the issue of public funding for NPR / PBS and "gotcha videos" became a hot topic.   I recalled that there had been some "news" about ALEC from NPR or PBS or both -  it seemed to me it was "video" but in my searching I stopped searching when I found the NPR (quite politely labeled) audio story below.

When I posted (3/17) the suggestion of why NPR might be an "ideological" target I knew that ALEC was the subject of the audio.  To me it was just an example how Republican's / conservatives have seemed to be able to organize and identify long-term objectives and strategies to work toward them.  I left another, personal example, on Professor Cronon's blog about David Keene and the American Conservative Union and how this classmate of mine (at the UW) knew he most wanted to be a "Republican" at the age of 18 or 19 - this is roughly 48 years ago.   

12/21/2012 - Just noticed that David Keene was/is President of the NRA

First, perhaps the rest of us think too short term or tactically and when we organize to support "collective bargaining" or some other cause we need to be more like a conservative.  

Second, we  need "journalists" to be vigilant and thoughtful and perhaps a little more strident about asking tough questions and not just "neutral" reporting of sound bites and platitudes.

Here is a good example of deeper thinking and reporting -

Vital Signs: State GOP health bills mirror model ALEC legislation by Shawn Doherty - CapTimes

from the article ... 

Republicans (WI) have proposed a pair of bills  that would allow insurance policies in Wisconsin to ingore state mandates requiring coverage for a broad variety of medical treatments and conditions, including autism, cochlear implants and mental health problems. One of these bills would allow out-of-state health insurers to offer plans in Wisconsin that do not conform to the state's mandates.

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From 3/17 Blog:

NPR an Ideological Target! Why?

Click the title for NY Times link (3/14).       Because their audience is growing!

3/17/2011 ...and another kind of reason
Shaping State Laws With Little Scrutiny by Laura Sullivan

... as I recall some state legislators were "given" scholarships to attend ... it would be interesting to trace legislation back to Wisconsin and our Legislative Reference Bureau where it would be redrafted for introduction ... any students need a project?

WI 1848 Forward:Reprise 3/17/11 - #NPR an Ideological Target! Why? - #ALEC #NRA - #Cronon : David #Keene Pres #NRA

Elements Of NPR Gotcha Video Taken Out Of Context by David Folkenflik

Elements Of NPR Gotcha Video Taken Out Of Context by David Folkenflik

Worth a listen ...teaches the problem with quick judgments!   From Morning Edition 3/14/2011.