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  • Chalet To Be Relocated

    enchalet1Park officials say the Enchanted Valley Chalet in Olympic National Park is being relocated to protect the east fork of the Quinault River. Enchanted Valley will be closed to camping for the first two weeks of September, while the move takes… Read More +

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  • Body Found In Home Linked To Bloody Carpet

    police-tapeA body found Monday evening at a Puyallup home is believed to be the man police have been looking for since bloody carpeting was found burning Aug. 13 along an Auburn road. Pierce County sheriff's spokesman Ed Troyer says evidence suggests… Read More +

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  • Mariners Lose To Athletics 6-1

    mariners 8The fired-up Oakland Athletics came out swinging, and Chris Young's day was short-lived. Newcomer Adam Dunn hit a two-run homer as Oakland jumped to a five-run lead in the first, and Young failed to make it out of the inning as Seattle lost 6-1 to the Athletics on Monday. "I wasn't sharp. My stuff wasn't good, it was flat," Young said. "They came out super-aggressive, you could see it.

    Read More
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Top CEO Rails Against 401(k) Programs

b_250_0_16777215_00_images_obgrabber_2013-11_28cd228107.jpgiStock/Thinkstock (NEW YORK) -- More than 50 million Americans have 401(k) retirement plans. That's the good news, according to Charles Schwab Chief Executive Walter Bettinger. The bad news is that the median 401(k) balance is barely over $40,000, hardly enough to retire on. Bettinger told the National Press Club Monday that he's angry with the 401(k) system making it too expensive for Americans to save money for their golden years.

 

Not only should overall fees be lowered to make building a 401(k) plan more affordable, but Bettinger says that 401(k) programs should also go the extra mile and provide people with a money manager.

The CEO explained, "Research we've done on plans at Schwab show that employees working with an independent professional double their savings rates and set up a far superior investment allocation."

Copyright 2013 ABC News Radio

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