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Will the Congress/Legislators move to enhance disclosure of 401k fees, and related expenses? Now, it's not crystal clear?

Ask anyone who is trying to stay on top of their qualified retirement accounts, and they will promptly say, they have know idea exactly what they paid from year to year for a company to manage their accounts. Is there specific legislation on the horizon to assist the account holder to determine exactly what they cost is from year to year. T

May 08, 2014 by Torre' from Atlanta, GA in  |  Flag
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The Department of Labor has put through increased fee-disclosure requirements for 401(k) plans in just the last two years (see http://www.dwt.com/DOL-Issues-Final-Retirement-Plan-Fee-Disclosure-Rule-03-15-2012/), and most consumers should have begun to receive additional fee disclosure details from their plan providers in the past year.

There are still some debates about whether the fee disclosures have been 'transparent enough', but you should be able to receive additional information (if you haven't already, buried in the midst of one of the statements mailed to you?) from your plan administrator!

Comment   |  Flag   |  May 09, 2014 from Columbia, MD

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