Jean Chatzky
You've worked all your life, and now it's time to cash in on your benefits…or is it? How do you determine if your employee benefits are on track? To find answers, Jean talks with Dallas Salisbury, president and CEO of the Employee Benefit Research Institute, about how you can stay in control of your finances—now and when you retire.

How can you know if your 401(k) is charging you too much money in terms of fees, and if it is, what do you do?
Dallas says that 401(k) fees have actually decreased progressively since these sorts of plans were invented. In fact, he says that participants have been "paying less money and getting more for those lower amounts of money."

If you are concerned about the fees, Dallas says you should first look at the investment options you've selected, examine the corresponding fees, and then compare those fees with the fee levels on the investment options that you have not decided to put your money in. If you want to pay the lowest fees, select those options with the lowest fees, he says, but be aware that that's just one factor among many that will affect your returns.

Are people saving enough for retirement?
"At best, about 10 percent of Americans might be saving too much, and 90 percent of us aren't saving enough," Dallas says.

How can you save more?
Find an automatic way to do it, Dallas says. Enroll in automatic payroll deduction at work, or at any financial institution, so that money is automatically deducted from your checking account and put toward your retirement fund. Calculate your budget based on that lower amount of money, he says, even if you're living paycheck to paycheck.


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