Plan sponsors will now have until July 1 to meet the much-discussed regulations on 401(k) fee disclosure, following Department of Labor announcements Thursday on the final rulings.
The three-month extension of the final date was issued to give sponsors and administrators extra time to effectively prepare for a new level of transparency in the 401(k) market.
In recent months, the industry has asked for more time to comply with the rulings; Thursday's announcement effectively finalizes those rules and starts the clock.
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