The mainstream media is ranting on about the new 401k Fee disclosure rules. “Finally, we are saved!” 

Without a doubt, the majority of plan sponsors have no idea what they are paying in fees, so the government is going to force the providers to tell them. The first thing plan sponsors will learn if an employee sues them for “breach of fiduciary duty” is what they have been paying in fees. Those that don’t know will not have a leg to stand on. The rules don’t state what the fees should be but that fiduciaries have an obligation to know what they are and that they are reasonable. Read the rest of this entry »