Transparency's big right now. In fact, I can't remember hearing this much about it since the advent of Scotch Tape. (Sorry, I'm still wrapping presents.)

Seriously, though, it's one of those rare industry-coined terms that actually manages to transcend the market and lodge itself in the mainstream vernacular. Politicians love to espouse the promised land of transparency from the stump, but rarely do much to encourage it in the trenches.

The Bush administration jumped aboard last week with their announcement of support for full disclosure of 401(k) fees. The administration proclamation backs a recent Labor Department proposal that aims to "foster fair, competitive and transparent prices for services as well as combat excessive or hidden plan fees."