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If a tree falls in the forest, does anyone hear it? If a fee stays hidden from a 401(k) plan sponsor, does it matter? In the past, it may not have. Today, as Fred Reish comments, it may (see “DOL Smacks 401k Adviser for 12b-1 Fiduciary Breach. Plan Sponsors Next?” FiduciaryNews.com, March 26, 2013). 

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