The legislation that came into effect during June 2012 was a massive step towards enlightening and clarifying participants and plan sponsors about the fees paid for the 401(k) plans. The latest law requires each plan to provide fiduciaries and their plan sponsors with a fee disclosure report, also called the 408(b) 2 Document. The participants and plan sponsors can resort to numerous steps in efforts to ensure that their 401(k) fees are reasonable and fair in keeping with the plans size…
