401(k) investors and sponsors are likely to stand up and take notice of the fees that will be clearly presented to them in April, particularly the fact that investors pay most of the administration fees. These administration fees, or expense ratios, cover not just fund management but also recordkeeping, auditing and broker commissions.
And fund companies are worried these disclosures, as required by the Department of Labor, will “open up a can of worms,” particularly at a time when the market has been so volatile, Louis Harvey, president of Dalbar, told the Houston Chronicle.
“Employers don’t really know about the fees, and it’s not in the best interest of the service providers to make it crystal clear,” Harvey added.
This story was originally published in Money Management Executive, a Source Media publication.
Register or login for access to this item and much more
All Employee Benefit News content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access