401(k) Type Plans: The DoL Has A New Proposal Regarding Disclosure Of Plan Fees And Expenses.
Tuesday, July 22nd, 2008Guess how many employees have a 401(k) type plan?
If you guessed that plans have an estimated 65 million participants, you would be right. Just think about it. That’s 65 million people who are being charged more than a plan should cost, these days.
Yes, the cost of most plans is high, but the good news is this. The U.S. Department of Labor has proposed some new rules to improve disclosure of fees and expenses. It’s not final, yet…so don’t get too excited.
You should check it out at the U.S. Department of Labor’s Web site: http://www.dol.gov/ebsa/newsroom/08-991-NAT.html
Best wishes,
Your teacher, Frank Cirullo
