The Department of Labor unveiled a new proposal Tuesday that would make all fees, expenses and options related to 401(k) investment plans more transparent to employees. The new regulations, which would take effect January 1, 2009, are expected to help workers make better, more informed decisions regarding their retirement plan options, as well as give employees hard data as to how their retirement plans are performing relative to recognized standards. The Department of Labor also foresees that the improved clarity of the terms and performance of retirement plans could save beneficiaries as much as $6.1 billion over the next decade.
See "U.S. Pushes for Clearer Disclosure of 401(k) Fees", Daisy Maxey, The Wall Street Journal, July 22, 2008