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Are brokers luring soldiers out of the federal retirement plan?

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Ryan Donnell/Bloomberg News

Ryan Donnell/Bloomberg News

Federal employees, including veterans and soldiers, get the benefit of a "top-flight" retirement plan from the government. Called the Thrift Savings Plan, it offers some of the lowest fees on the market. But there's an exodus of money from these plans, and it may be because brokers are urging former federal workers to put their money in more expensive accounts. One man went to find out why.

From the story:

"Bloomberg News found one company that caters to the military promised “no-fee” IRAs -- language that the financial industry’s own self-regulatory group has called misleading -- and another offered a $200 bonus to roll over. Other companies are advertising “Gold IRAs,” which invest in precious metals that can subject buyers to huge price swings and markups."

Read the full story at Bloomberg News


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