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Category: Retirement Planning * US Department of Labor 401k Fees Rule
VisitUS Department of Labor 401k Expense Rule Popular Last Update: Jan/28/2011 14:47
US Department of Labor Fact Sheet: Final Rule to Improve Transparency of Fees and Expenses to Workers in 401(k)-Type Retirement Plans

Finding information about the costs of employer-sponsored defined contribution plans is difficult, because for years weak regulations have allowed the financial industry to obscure these costs and gouge millions of retirement plan participants. This has made it difficult for both employers and plan participants to understand the true costs of these retirement plans. Particularly at smaller companies where fewer people are paying attention, some of these retirement savings plans carry simply outrageous visible and hidden fees. With new US Department of Labor regulations requiring fee disclosures, we will soon have a much better understanding of these fees starting at the beginning of 2012. For information on these new regulations, follow this link to the US Department of Labor.

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