July 26, 2008
401(k) Participants to Receive Improved Disclosure of Fees and Expenses
Filed under: News
Vision Payroll

The US Department of Labor proposed a rule change that would require participants in 401(k) plans to receive “investment-related information in a comparative chart or similar format.” The chart could be based on a model chart designed by the Department of Labor or a plan fiduciary could design a different chart or use a comparative format to relay the information. On a regular basis, participants would receive “basic information about the plan and its investment options, such as what options are available under the plan, how to give investment instructions, investment returns and fees and expenses, and how to obtain more detailed information.” The proposed regulation would be effective for plan years beginning after December 31, 2008.


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