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Reveal Management Charges

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The Tampa Tribune

Published: July 27, 2008

Regarding "401(k) Rule Finally Reveals Hidden Fees" (Our Opinion, July 24):

The new rule proposed by the Department of Labor that investors be told how much they are being charged for management of their assets in 401(k)s is definitely a move in the right direction. Similar transparency of management and administrative fees being charged investors by all mutual funds and financial managers of other peoples' money needs to happen. It is unacceptable to me as it should be to all investors that someone can have their hands in my wallet, help themselves to my money and not have to tell me how much they are taking and when they took it!

They have sophisticated computer programs to calculate how much to take so there is no question that they know. It's just that they don't have to tell their customers. If you want to know, you have to figure it out because they aren't saying.

RAY DORN

Sebring

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