Labor Dept. wants more 401(k) plan fee disclosures

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The Labor Department has proposed a new rule that would make it easier for those with 401(k) retirement plans and their employers to locate just what fees and expenses are attached.

Department officials say the rule would update a 2012 rule on the same subject. But many disclosure forms offered since then have become too lengthy, complex and confusing.

There is a public comment period of 90 days. Then, the department will hold focus groups on the proposed new rule with those from financial firms offering such plans, with a particular focus on pension plans with fewer than 100 participants.

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