Expanded 401(k) fee disclosures 'likely'
Congress is likely to pass legislation to expand 401(k) fee disclosures later this year, said James M. Delaplane, Jr., a partner with Davis and Harman LLP, this morning.
Mr. Delaplane spoke at the in front of nearly 400 attendees at the InvestmentNews 2007 Retirement Income Summit at the Grand Hyatt in New York.
Many political leaders are worried about the issue of fees, he said and legislators believe that retirement assets are being diminished because of the hefty fees that some participants are paying, Mr. Delaplane said.
While fee disclosures for 401(k) plans are a priority for Congress, he said, it is unlikely major tax changes with implications on retirement will occur until 2009 or 2010 because the Pension Protection Act that was passed into law last year.
Were seeing some fatigue among retirement issues, he said.
