State:
Free Special Resources
Get Your FREE Special Report. Download Any One Of These FREE Special Resources, Instantly!
Featured Special Report
Claim Your Free Cost Per Hire Calculator
This handy calculator lets you plug in your expenses for recruiting, benefits, salaries, and more.

Graphs automatically generate to show you your annual cost per hire and a breakdown of where you are spending the most money.

Download Now!
November 22, 2010
Final Rule Affecting 401(k)-Type Retirement Plans

Fiduciaries of 401(k)-type retirement plans must provide workers with quarterly statements of plan fees and expenses deducted from their accounts, under a final rule announced by the U.S. Department of Labor’s Employee Benefits Security Administration (EBSA).

For a Limited Time receive a FREE Compensation Market Analysis Report! Find out how much you should be paying to attract and retain the best applicants and employees, with customized information for your industry, location, and job. Get Your Report Now!

The final rule also states that plan fiduciaries must give workers core information about available investments, including:

  • Tell the cost of such investments
  • Use standard methodologies when calculating and disclosing expense and return information to achieve uniformity across the spectrum of investments that exist in plans
  • Present the information in a format that makes it easier for workers to comparison shop among the plan’s investment options
  • Give workers access to supplemental investment information in addition to basic required information

“This rule will ensure that all workers who direct their plan investments have access to the information they need to make informed decisions regarding the investment of their retirement savings, including fee and expense information,” EBSA explained in a statement.

Featured Free Resource:
Cost Per Hire Calculator
   
   
 
 
Twitter  Facebook  Linked In
Follow Us
CT-WEB06
Copyright © 2016 Business & Legal Resources. All rights reserved. 800-727-5257
This document was published on http://Compensation.BLR.com
Document URL: http://compensation.blr.com/Compensation-news/Benefits-Leave/Retirement-Savings-401k/Final-Rule-Affecting-401k-Type-Retirement-Plans-/