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Compliance June 11, 2012
Borzi Announces Fee Disclosure Help for Participants
June 11, 2012 (PLANSPONSOR.com) – Phyllis Borzi, assistant secretary for the Employee Benefits Security Administration (EBSA), announced tools to help participants understand fee disclosures.
Reported by Rebecca Moore
In her retirement security newsletter for plan participants, Borzi said the EBSA offers consumer-focused FAQs that explain the new rules for disclosures about 401(k) services and investment fees. In addition, the agency has a publication, A Look at 401(K) Plan Fees, which includes explanations of various fees and charges and a checklist participants can use to review plan fees.
The consumer-focused FAQs are at http://www.dol.gov/ebsa/faqs/faq-disclosures.html. The publication is at http://www.dol.gov/ebsa/publications/401k_employee.html.
Retirement plan sponsors and participants can subscribe to Borzi’s newsletter at https://public.govdelivery.com/accounts/USDOL/subscriber/new?topic_id=USDOL_422.
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