The much-discussed April 1 deadline for 401(k) providers to begin to comply with new fee disclosure regulations may itself be delayed by the Labor Department, as the final rule on the disclosures itself has been repeatedly delayed.
DOL officials still insist that the deadline, the precursor to the issuing of fee disclosure information to plan participants on June 1, can still be met, though they say they are sympathetic to the challenges the new rulings are created for service providers.
Plan providers say they would welcome a delay, as it would provide them more time to understand and clarify what they need to do to meet the regulations.
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The DOL first issued the rule in July 2010 and planned on implementation a year later; industry lobbying helped delay the plan to this April.
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