401(k) rules changes

401(k) Fee Rules Changes Coming This Summer

Posted on 04/23/2012 by | Money and Work | Comments

Bulletin Today | Money & SavingsWorkers will be able to learn how much the fees for their 401(k) plans are draining from their accounts when new disclosure rules go into effect this summer. Beginning July 1, financial institutions that administer employer-sponsored defined contribution and pension plans will be required to disclose the fees and administrative costs they charge in a user-friendly format. The rules were initially scheduled to take effect this month but the U.S. Department of Labor delayed implementation from April to July to give …