Edward Siedle on Investment Fees

The following quote is the opening to Chapter 17, page 195, of Edward Siedle's book Who Stole My Pension? If this doesn't get your attention, I don't know what will. It will no doubt raise some questions in your mind about your pension..

"Your Pension Is Lying About Its Investment Fees 

"Your pension is lying about how much money it pays Wall Street Investment firms to manage its assets. It's paying exponentially more -- perhaps 10 times -- than it's telling you.

"In countless investigations, I have proven that the fees pensions disclose to the public are just the 'tip of the iceberg.' Most often this is due to alternative investment fee complexity. That is, alternative investments impose multiple levels of hefty fees which are not fully disclosed even to pensions, much less participants. The problem is exacerbated by the fact that (1) pension overseers lack investment experience and, hence, don't know how to ferret out fees and (2) pension overseers have agreed to withhold documents related to fees from participants and the public -- so no one has the opportunity to verify whether fees are fully disclosed. 

"Why should you care? Because the more your pension pays Wall Street, the worse its net (after fees) investment performance is and the less it has to pay you."

There's more -- MUCH more -- in Edward Siedle's book Who Stole My Pension?