A fee-disclosure rule could lead to more exchange traded funds (ETFs) being incorporated into 401(k) plans.
But the retirement industry says it’s taken aback by the deadline for such disclosures, put in place by the Department of Labor: Jan. 1.
The rule is that plan fiduciaries would have to disclose fees and performance numbers, reports Joe Morris for Ignites. Not only that, but it has to be easily understood and done in such a way that it allows for easy comparison of investment options.
Sounds easy enough, doesn’t it? What’s so hard about a little bit of disclosure? That isn’t stopping some in the industry from claiming that the timeline will be hard, if not impossible, to meet.
Break out the Kleenex!