Your Money

By Daniel Eisenberg

FUND FACTS IN PLAIN ENGLISH

Mutual funds are billed as an easy way to play the stock market, but the prospectuses are packed with confusing jargon. Starting this month, funds are allowed to send potential investors a simplified "profile" that lays out their fees, risks and performance in plain English. Look for Vanguard and Fidelity to offer profiles within the next year.

SAVINGS AT SMALL BANKS

If you need a good checking account, bigger banks are definitely not better. That's the conclusion of a new Bank Rate Monitor study, which found that small, local banks offer the best deals in the U.S., while giants like Citibank and NationsBank sock customers with charges up to $200 a year. Small community banks are opening at record rates (200 last year alone), so watch your area for high yields and low minimum balances and fees.

NO REST FOR THE BOOMERS?

Most baby boomers plan to keep working well past retirement age, according to an A.A.R.P. poll released last week. It's a good thing, since they might not have an alternative. Only 65% of eligible Americans are contributing to 401(k) plans, and just 10% are saving the maximum. Most employers match a portion of contributions--say, the first $3,000--so don't leave that money on the table.