Over the last 12 months, the U.S. Department of Labor and theSecurities and Exchange Commission proposed several rules,regulations and legislation that will soon change retirementplanning for all—investment companies, employers andinvestors. Of all the recently issued regulations, those concerning401(k) fee disclosures have been the most talked about.

In sum, the DOL issued final regulations that will soon requireinvestment companies to disclose the hidden fees they are charginginvestors participating in 401(k) plans and other definedcontribution plans. This new regulation will require plan providersto report to investors, typically the employees of plan sponsors,the direct and indirect compensation received in connection withaccount services and will take effect July 16, 2011.

We’ve heard a lot of talk from politicians and lawyers about howgreat the new regulations will be to investors and how it’ll helpfix the American retirement system. And while the disclosure of401(k) fees will provide consumers with honest options and the pushtoward transparency is a wonderful concept, consumers willultimately pay since unfortunately, they always do.