Fee Disclosure of Defined Contribution Plans: The State of Fiduciary Duties

Corporate governance events in the financial services industry over the last few years have caused plan sponsors to pay more attention to transparency and disclosure of fees charged by plan service providers. The problem is that the fees are all too often “hidden” within the investment fee structure of the defined contribution plans.

This has led to proposed legislation which would require financial service providers to disclose fees to plan participants and sponsors of Internal Revenue Code Sections 401(k), 403(b), and 457 plans, as well as state and local government plans…

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