According to a news release, the publication outlines CIEBA’s views on fee disclosure and general guidelines and investment-specific considerations for sponsors developing fee disclosure materials for 401(k) or other types of defined contribution plans. The booklet also contains sample disclosure statements for different types of plan services and/or investments.
Good disclosure of costs and fees associated with defined contribution plans is especially important, since employees’ retirement security is dependent on how much they contribute, how the contributions are invested, and the performance of these investments, net of costs to the participants, according to the announcement.
The new offering was developed by members of CIEBA’s Defined Contributions Subcommittee as a practical guide for plan sponsors, according to the news release.
A full copy of the new publication is here .