Read excerpt below:

April 22, 2009
By Gail Marks Jarvis
ChicagoTribune.com

It seems 401(k) plans are being hauled out by Congress for a public stoning.

It's the catharsis many Americans need after losing an estimated $600 billion in 401(k) plans in the worst bear market since the Depression.

The huge drop in the stock market has focused congressional attention on practices within some 401(k) plans—practices that can cause people to pay excessive fees and that subject workers to investment choices that are not always in their best interest.

The market downturn has highlighted the fact that many Americans are not educated adequately about investment decisions and fumble mutual fund choices.

For example, as the market was beginning its decline in 2007, 1 in 4 Americans ages 55 to 65 had 90 percent or more of their 401(k) money invested in stock mutual funds, according to research by Jack VanDerhei, research director at the Employee Benefit Research Institute.

Read entire article: http://www.chicagotribune.com/business/yourmoney/chi-tc-401k-gail-apr22,0,7314982.column