Retirement plan service providers have known that new fee disclosure rules were on the table for ages now, but the latest extension may actually be the last.
DOL says July 1 is the drop-dead date for 401(k) plans to break out their fees in plain English.
This is roughly a year after the rule was originally set to go in effect.
Service providers have consistently balked, arguing that they don't have enough time.
At this point, can we really blame technology? Or is there some other reason they don't want plan participants to see exactly what they're paying for their nest eggs?