There has been some talk in recent months that the details of employee 401(k) plans will become more transparent, especially fees charged to the account and how they compare to other plans.
In July, the Labor Department released rules that would force companies to add more clarity to the world of investments. Both companies that provide 401(k) plans and pension plan service providers are now required to list any fees that total at least $1,000 in services. They also have to note how much they are charging for services like record-keeping.
As a result, employers are not only supposed to be able to make easier apples-to-apples comparison when shopping for 401k plans, but when you receive your statement in the mail, you should soon be able to understand how the balance was calculated (New York Times).
