More information regarding the issue of brokerage windows in 401(k) plans – designed to allow more investment-savvy participants the option to self-manage more of their retirement savings – was released Monday by the Department of Labor's Employee Benefits Security Administration.
On May 7, 2012, the Department issued Field Assistance Bulletin No. 2012-02, which provided guidance to its field enforcement personnel in question and answer format on the obligations of plan administrators under a final regulation to improve transparency of fees and expenses to workers with 401(k)–type retirement plans.
The regulation requires plan administrators to give workers improved disclosures regarding administrative and investment fees and expenses in their 401(k) type plans.
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