Sen. Herb Kohl (D-Wis.), chairman of the Senate Special Committee on Aging, held a hearing on Wednesday to discuss the impact hidden fees in 401(k) plans can have on investors’ retirement savings.

He, along with Sen. Tom Harkin (D-Iowa), is also preparing a bill on the subject, the Defined Contribution Fee Disclosure Act of 2007. It would require fund administrators to disclose fees not only to sponsors but also to investors.

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