Labor Secretary Herman
Calls For Hearings
on 401(k) Fees

EXCERPT:

"Secretary of Labor Alexis M. Herman has asked the department's Pension Welfare and Benefits Administration (PWBA) to conduct public hearings to find out whether fees being charged for administering 401(k) plans are appropriate."

OTHER POINTS:

-- PWBA to "look into the investment management, administration and other fees charged to 401(k) plans and participants."

-- Public comment will be heard regarding three topics:

1. "Whether plan sponsors and employees understand the fees and expenses they are charged"

2. "Whether there is a need for more disclosure of fee information"

3. "Whether there are sufficient protections in place to safeguard against excessive fees"

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