U.S. Labor Department Proposes Regulations to Increase Disclosure of Fees and Conflict of Interests Affecting 401(K) and Other Employee Benefit Plans
U.S. Newswire, December, 2007
To: NATIONAL EDITORS
Contact: Gloria Della, 1-202-693-8664, or Richard Manning, 1- 202-693-4676, both of the U.S. Department of Labor
WASHINGTON, Dec. 12 /PRNewswire-USNewswire/ -- The U.S. Department of Labor today announced a proposed rule that will enhance disclosure to fiduciaries of 401(k) and other employee benefit plans to assist them in determining the reasonableness of compensation paid to plan service providers and conflicts of interest that may affect a service providers performance under a service contract or arrangement.
One of the departments top priorities is improved disclosure in order to ensure that participants and fiduciaries have the information they need to make informed decisions, said U.S. Secretary of Labor Elaine L. Chao. We are working...
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