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DOL Issues Final Regulations on Mandatory Fee-Disclosures

By Marcia S. Wagner

On Oct. 14, 2010, the Department of Labor (DOL) finalized its regulations concerning the fee and investment-related disclosures that must be provided to participants in 401(k) plans and other defined contribution plans with participant-directed investments. The final regulations are generally consistent with the DOL's 2008 proposed rules, reflecting modest changes based on comments received by the agency.

In its press release announcing the issuance of these final rules, the DOL explained that existing law did not require plans to provide workers with “the information they need to make informed investment decisions regarding the investment of their retirement savings,” such as fee and expense information. However, the new rules would enable the estimated 72 million affected participants “to meaningfully compare the investment options under their plans.”

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