What You Need to Know About New 401(k) Disclosure Rules

What You Need to Know About New 401(k) Disclosure Rules

By: Dean Murray

In July 2012, new rules take effect requiring greater transparency about the fees charged by 401(k) advisors and vendors. Employees at your association may be surprised to hear about such fees, so here's how to address issues raised by the new disclosure requirements.

In the past 12 months there have been rumblings from the U.S. Department of Labor about proposed regulations on retirement plan fee disclosures. The ruling, published under the Employee Retirement Income Security Act 408(b)(2) (ERISA), will finally take effect July 1, 2012. If your association provides a 401(k) plan to your employees, you need to be aware of the changes. ...