Retirement historically has been about accumulation. Now it's all about decumulation," Michael Davis, deputy assistant secretary of the DOL's Employee Benefits Security Administration, speaking at the 2012 ASPPA 401(k) Summit on Monday in New Orleans.
Davis and ASPPA CEO Brian Graff opened the second day of the conference with an enlightening conversation about the pace—and the considerable gray areas remaining—in this countdown to the rollout of full fee disclosure in the industry.
Fee disclosure is a very important component of retirement, Davis said. "A lot of big guys can get that information from providers, but for small plans it can be hard to extract that information."
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