LAS VEGAS — File this one in the "if it makes sense, don't count on the feds to get it" file.
Just last week, the Department of Labor threw out a couple of new rule ideas that would at least part the shrouded veil draped over 401(k) fees. But they can't even get that right.
The proposed rules — set to kick in Jan. 1 — complicate what should be a pretty simple fix. See, the feds want the different fees disclosed in separate documents, at different intervals and in completely different ways. Yeah, I know. We need more paperwork, right?
Recommended For You
So, one statement would offer a breakdown in actual dollars, and the other would come across as a percent of one's assets. And one would arrive quarterly, while the other would be an annual affair.
So, the feds want employees everywhere — who can barely manage to figure out how these things work in the first place — to sit down with their solar calculator, separate statements and a nibbled No. 2 pencil to do the math on just how much they're forking over to nurture their nest egg?
Yeah, that's gonna be a hit. While it should be great business for CPAs and paper mills everywhere, I just don't see how this will make anything easier for the average Joe employee. But then again, why should the government start caring about that now?
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
