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Department of Labor Asks for 401(k) Comments

April 25, 2007
Related Topics: Retirement/Pensions, Benefit Design and Communication, Latest News
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The U.S. Department of Labor is seeking comments about fee disclosure for 401(k) plans and other defined-contribution plans.

The agency announced Tuesday, April 24, that it is seeking information to assist the department in improving information provided to an estimated 41 million participants about administrative and investment fees and expenses charged in 401(k) plans.

Congress recently held hearings about fee disclosure issues, and Department of Labor officials have said that fees and expenses can have a significant impact on workers’ retirement savings.

Written comments on fee disclosure should be submitted by e-mail to e-ori@dol.gov or through the federal e-rulemaking portal at www.regulations.gov.

Paper-based comments should be sent to the Office of Regulations and Interpretations, Employee Benefits Security Administration, Room N-5669, U.S. Department of Labor, 200 Constitution Ave., N.W., Washington, D.C. 20210, Attention: Fee Disclosure RFI.

The comment period ends July 24.

Filed by Lisa Shidler of Investment News, a sister publication of Workforce Management. To comment, e-mail editors@workforce.com.

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