DOL asks for 401(k) comments

The U.S. Department of Labor is seeking comments about fee disclosure for 401(k) plans and other defined contribution plans. The agency announced it is seeking a request for information to assist the department in improving information provided to 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 electronically by email 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 on July 24.