Employee Fiduciary, a small business retirement plan advisory, called out the Department of Labor to make fees transparent in 401(k) plans, providing recommendations to improve overall participant fee awareness.
Employee Fiduciary is a provider of 401(k) recordkeeping and Third-Party Administration (TPA) services. They recently submitted a comment letter to the U.S. Department of Labor in response to the Request for Information regarding the SECURE 2.0 Reporting and Disclosure requirements. The letter was written by Employee Fiduciary's President and CEO, Eric Droblyen, addressing several key areas of concern, the primary focus being the need for enhanced clarity and transparency for 401(k) fees presentation.
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