Number: RL34678
Title: Fee Disclosure in Defined Contribution Retirement Plans: Background and Current Legislation
Authors: John J. Topoleski, Domestic Social Policy Division 
Abstract: As households become more reliant on 401(k) plans and other defined contribution pension plans for future retirement income, policymakers have become more concerned that participants could be unaware of the fees charged in their plans. Small differences in fees charged can have large impacts on account balances upon retirement. This report provides information on the kinds of fees that are charged in 401(k) and other defined contribution plans and details the provisions of three bills that address fee disclosure in retirement plans: H.R. 3185, the 401(k) Fair Disclosure for Retirement Security Act, which was approved by the Committee on Education and Labor by a vote of 25-19 on April 16, 2008; H.R. 3765, the Defined Contribution Plan Fee Transparency Act of 2007, introduced on October 4, 2007; and the Defined Contribution Fee Disclosure Act of 2007, introduced December 13, 2007.
Pages: 16
Date: September 22, 2008