Bloomberg TV Investigates Hidden Fees in 401(K) Plans-Tomorrow Night

Bloomberg TV Investigates Hidden Fees in 401(K) Plans-Tomorrow Night

NEW YORK, June 18 /PRNewswire/ -- 78 million Americans born between 1946 and 1964 will be the first generation to rely on 401(k) plans for all or part of their retirement income. Yet, as retirement looms for these Baby Boomers, the average 401(k) balance for those approaching age 65 is just $60,000. Among the reasons 401(k)s are falling short: hidden fees that can, over a lifetime of savings, skim off more than half of a 401(k) investor's potential returns.

Tomorrow evening, a special BLOOMBERG TELEVISION(R) report, "401(k) Hidden Fees," demonstrates that these fees are buried in the fine print of obscure documents or can be so confusing that even financial consultants find them hard to untangle. It's no wonder eight out of ten respondents with 401(k)s don't know the cost of their plans, according to a 2007 survey by AARP.

BLOOMBERG TELEVISION viewers will meet several Americans who only learned about the fees they're paying after Bloomberg had their plans analyzed by professionals. Through their stories, viewers will learn where to find some of these hidden fees, who's charging them and how it's being done without the knowledge of the Boomers whose nest eggs may not be large enough when it's time to retire.

"401(k) Hidden Fees" is hosted by Mike Schneider and will air on Thursday, June 19 at 7:00pm and 9:00pm ET.

This exclusive content and follow up reports are available to the public on the BLOOMBERG TELEVISION network, BLOOMBERG RADIO services, BLOOMBERG.COM, as well as to users of the BLOOMBERG PROFESSIONAL(R) service. Clips from the interviews will be archived and available via the BLOOMBERG PROFESSIONAL service.

About Bloomberg Television

The BLOOMBERG TELEVISION(R) service is the only worldwide 24-hour business and financial television network, broadcasting in seven languages to more than 200 million homes via eleven channels. BLOOMBERG TELEVISION programming is created exclusively by the global BLOOMBERG NEWS(R) service with more than 2,300 professionals in over 135 bureaus. The dynamic BLOOMBERG TELEVISION screen adds depth and context to on-air reports, providing viewers with charts, breaking news, stock quotes and relevant stock indexes in real time gleaned from the news, data and analytics tools of the BLOOMBERG PROFESSIONAL(R) service.

About Bloomberg

Bloomberg is the global provider of financial data, news and analytics. The BLOOMBERG PROFESSIONAL(R) service and Bloomberg's media services provide real-time and archived financial and market data, pricing, trading, news and communications tools in a single, integrated package to corporations, news organizations, financial and legal professionals and individuals around the world. Bloomberg's media services include the global BLOOMBERG NEWS(R) service with more than 2,300 professionals in over 135 bureaus worldwide; the BLOOMBERG TELEVISION(R) 24-hour business and financial network produced and distributed worldwide on eleven channels in seven languages; and BLOOMBERG RADIO(SM) services providing up-to-the-minute news on XM, Sirius and WorldSpace satellite radio globally and on WBBR 1130AM in New York. In addition, Bloomberg publishes BLOOMBERG MARKETS(R) magazine and BLOOMBERG PRESS(R) books for investment professionals. For more information please visit http://www.bloomberg.com/

The BLOOMBERG PROFESSIONAL service and data products are owned and distributed by Bloomberg Finance L.P. (BFLP) except that Bloomberg L.P. and its subsidiaries (BLP) distribute these products in Argentina, Bermuda, China, India, Japan and Korea. BFLP owns and distributes Bloomberg Markets Magazine. BLP provides BFLP with global marketing and operational support and services. Bloomberg Tradebook is distributed by Bloomberg Tradebook LLC and its subsidiaries. BLP owns and distributes Bloomberg Television, Bloomberg Radio, the Bloomberg Website and Bloomberg Press. BLOOMBERG, BLOOMBERG PROFESSIONAL, BLOOMBERG MARKETS, BLOOMBERG NEWS, BLOOMBERG ANYWHERE, BLOOMBERG TRADEBOOK, BLOOMBERG BONDTRADER, BLOOMBERG TELEVISION, BLOOMBERG RADIO, BLOOMBERG PRESS and BLOOMBERG.COM are trademarks and service marks of Bloomberg Finance L.P., a Delaware limited partnership, or its subsidiaries. BTV is a trademark and service mark of Bloomberg L.P., a Delaware limited partnership. All rights reserved.

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Source: Bloomberg

CONTACT: Heidi Tan of Bloomberg LP, +1-212-617-5375,
htan14@bloomberg.net

Web site:

http://www.bloomberg.com/

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