New 401(k) disclosure regulations could cause a stir in November.
September 1, 2012
So far, the Department of Labor's new rule requiring 401(k) plan sponsors to distribute fee-disclosure statements to plan participants hasn't had much impact, experts say. Sponsors had until August 30 to comply with ERISA section 404(a)(5) by revealing the amount of fees that are being charged to participants' accounts, as a percentage of assets. Disclosures by early adopters have produced a "collective yawn" from employees, says Nancy Gerrie, employee benefits partner at McDermott Will & Emery. Read more...
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