Human Resources: 401(k) Plan Participant Bill of Rights Announced by The Online 401(k)

SAN FRANCISCO (March 22, 2007) -- As Congress tries to cut through the
clutter of often exorbitant and almost always ambiguous fee
arrangements within retirement plans, the nation's leading provider of
web-based retirement plan solutions is taking aim at the same problem.
Today, The Online 401(k)(TM) (www.TheOnline401k.com) rolls out their
401(k) Participant Bill of Rights.

For The Online 401(k) this measure is only part of its formal, public
crusade to combat the excessive, opaque fee structure found in most
401(k) retirement plan offerings.

Chad Parks, CFP®, founder and CEO of The Online 401(k), says, "As
providers and plan participants ourselves, we are outraged at the
abuses in the industry. For plan participants, it is only fair to know
what you are paying for participation and what impact those hidden
fees have on the net return on their retirement savings."

The following is the Plan Participant Bill of Rights, from The Online
401(k).
This can also be viewed, along with the Plan Sponsor Bill of Rights, at
www.TheOnline401k.com.

The Plan Participant's Bill of Rights:

Article I: The right to fair disclosure of the total cost of
participation

Without a doubt, participating in a 401(k) plan is a good thing.
However, participation does not have to be blind. Participants need to
be given information, delivered clearly and concisely on how much of
their plan dollars are being diverted to cover specific costs related
to plan administration, investments and rebalancing.

Article II: The right to know who is benefiting from their investment
selections

Who benefits from all the nickel-and-dime fees that come out of
participants' pockets? The broker, the plan provider, the plan sponsor
and the mutual fund companies are all likely to be compensated out of
participants' money. Participants deserve to know who is making money
off their money.
Article III. The right to know how to manage their 401(k) plan to avoid
higher cost investments.

Many 401(k) providers may seem like a bargain.at first. When you take a
look under the hood, you'll find that they get you with investments
"loaded" with sneaky ways to divert money away from the participants
(which usually include plan sponsors themselves!).

Participants should be given basic information on how to invest within
the plan to avoid higher cost, poor performing investments, as part of
other investment advice they may be receiving under the Pension
Protection Act of 2006.

Article IV. The right to plan performance on both a GROSS and NET
basis.

You might take a look at the performance of your mutual funds in your
401(k) online and get excited by how well they've done. But, when your
quarterly statement comes, things don't look so rosy. What happens to
your performance?

It gets undercut by fees and expenses, which is why it is important for
participants to be given a full report of their plan portfolio's
performance before and after fees and expenses hit the portfolio.

Article V. The right to free re-balancing within their 401(k)

Participants are often encouraged to rebalance their 401(k) plans.
Keeping an appropriate asset allocation is important to long-term
success.

However, deferred fees of up to 5% can undercut the benefit of
rebalancing, particularly if you sell your winners following the axiom
of buy low and sell high. If you get a 5% return on $100, you have
$105. Then, taking a 5% deferred fee on that $105 when you sell those
shares, you are left with $99.75. It doesn't seem right, does it?

About The Online 401(k)

The Online 401(k) is the nation's leading provider of web-based
retirement plan solutions for the small to middle market.
Headquartered in San Francisco, CA, the firm provides plan
administration and management services to individuals and businesses
in all fifty states. For more information on The Online 401(k), visit
www.TheOnline401k.com.

Small businesses interested in learning more about The Online
401(k)(TM) can request a quote at http://www.TheOnline401k.com and
automatically receive a customized proposal via e-mail. Small
businesses can easily establish their 401(k) plan, thanks to a
streamlined plan adoption process. The Online 401(k) offers a wide
variety of investments to choose from on multiple platforms. Once the
401(k) plan is set up, employees can access 401(k) and investment
education, select their investments and manage their individual 401(k)
accounts -- all from the convenience of their desktop.

Media Contact:
Greg Smore
Gregory | FCA Communications
For The Online 401(k)
610.642.8253, Ext. 188
GregS[at]gregoryfca.com