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.
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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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