News of the Day: Small fees pecking away at nest eggs

Marketplace radio has a story about H.R. 2989, the 401(k) Fair Disclosure and Pension Security Act of 2009. It lays out the reasons for more transparency in 401(k) fees.

As 401ks continue to weaken in a rough economy, lawmakers are paying closer attention to what they can control: the buried fees. Over a lifetime, 401k fees can add up to a six-figures number.

No doubt 401ks have taken a beating in the economic downturn. Retirement plans have lost an estimated $2 trillion -- and that's brought more attention to the buried fees charged by 401k plans. Today, a House committee takes up legislation that would address those fees.

Here's Marketplace's Dan Grech.