Beginning January 1, 2012 (for calendar year plans), the Department of Labor’s Employee Benefits Security Administration (“EBSA”) will require retirement plans that allow participants to direct the investment of their accounts (typically 401(k) and 403(b) plans) to provide extensive information regarding fees and expenses related to a plan’s investment options so that plan participants can more easily compare the costs of various investment options. This annual disclosure must also include performance information for each investment option offered under a plan. Additionally, participants must receive quarterly disclosure of the amounts and nature of expenses deducted directly from their accounts.
