Report on Plan Fees

June 4, 2012 at 8:38 am Leave a comment

The Government Accountability Office (GAO) issued a report on 401(k) plan fees located on their web site at http://www.gao.gov/assets/600/590359.pdf.  The study results regarding revenue sharing are particularly interesting.   The new DOL fee disclosure rules require a statement if revenue sharing exists.   The GAO survey results indicated that 48% of plan sponsors did not know if their plan had revenue sharing.   Of the 51% of plan sponsors who knew they had a revenue sharing agreement, they revealed that they did not take the revenue sharing into account and/or they did not have enough information about the arrangement.   Does adding a statement disclosing a revenue sharing agreement without any of the numbers really help individuals make informed decisions?

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Christine Gurney

A pension professional who shares her thoughts and ideas about the pension world for industry members and anyone else interested.

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