A win-win bill, eventually

Re “401(k) clarity,” editorial, April 21

I agree with the Senate bill requiring that all fees incurred in a 401(k) plan be detailed so that the buyer can compare plans and make an informed choice. It’s sad that the government has to step in to require the sellers to notify consumers just how much of their hard-earned money goes to fees and costs.

I would think making this disclosure would stir up competition among the financial houses, encouraging them to develop a good product that would attract investors. It also would help to eliminate the doublespeak the selling agents use to explain the fee requirements. One would expect opposition from the companies that sell these investment plans, but in the long run, they will benefit from this bill.

Samuel Monaco

Bloomfield, N.J.