Employers with 401(k) and other participant-directed individual account plans would have to disclose the fees and expenses of the investment options offered by the plans under rules proposed Tuesday, July 22, by the Labor Department.Additionally, employers would have to disclose past-performance data on investment options, comparable benchmark returns and a Web address for each investment option.
Employers also would have to provide a description of fees and expenses charged to participants for plan administrative services, such as legal and accounting, as well as how those charges will be allocated to their individual accounts.
A description of charges for specific services provided to a participant, such as for processing loans, also would have to be provided.
Generally, the disclosures would have to be provided when an employee becomes eligible to participate in the plan and annually thereafter.
= Member Only
