A BIG DEAL

A recent headline in an RIA Biz release by Elizabeth McBride is important to pay attention to, at least if you have anything to do with 401K plans.

Why the DOL’s massive new 401(k) disclosure requirements are a ‘very, very big deal’
RIA competitors (i.e. brokers) face daunting challenge of explaining complex revenue-sharing arrangements

By next January, about 72 million people with 401(k) plans will see, regularly, and in a relatively clear fashion, all the fees they are being charged for investments in and administration of their plans.

Long-awaited Department of Labor rules, released in final form yesterday, require plan fiduciaries, typically the companies sponsoring the plans, to make the disclosures to their workers.

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