A detailed guide for avoiding the pitfalls of retirement funding In Stop the Retirement Rip-Off , author David Loeper provides the necessary tools for investors to take action and make the most of their retirement plans. It offers a road map for employees to understand the fees and costs associated with their plans; document the excesses in a presentation to management; then organize themselves to protest and, if necessary, bring the documentation to the Labor Department in a complaint. Written in a straightforward and accessible style, this book is filled with sensible strategies for making the most of retirement funds and putting future retirees back on the right financial track. This important book contains the much-needed information that employees need to plan for retirement and ensure a secure financial future.
This is a very interesting side of all of our retirement plans that I honestly didn't even think about until I read this. I agree with the author that many different people are likely getting ripped off by their employer, and after reading this book, it has given me enough motivation to do some checking and investigating into my own retirement fund.
About 3 weeks after I read this book, low and behold I got a letter in the mail from my Goldman-Sachs retirement plan! Rather than toss this into the pile, or heaven forbid, throw it away. I am now interested in seeing how my plan fairs.
While I don't necessarily agree with all of the author's ideas to bring this up to your employer (Are you really going to buy a copy of the book to give to HR?!?! C'mon...), I like the notion that it's now easier to understand just what your plans are costing. A star off for his seemingly old-school methods and another for the fact that I didn't have my plan's info at the time I read this, so I'm not sure if this was useful or not.