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Language of Fee Disclosures Requires Careful Thought to Minimize Backlash
PLANSPONSOR; free registration may be required Link to more items from this source
July 3, 2012
"Employers need to think beyond simply meeting the requirements and more about providing clarity -- in part because the required disclosure includes a slew of fees that a plan participant might potentially pay; but some plan participants will not pay all of those (such as brokerage-window fees for self-directed accounts, loan fees and/or fees for investments they do not hold) ... Some people are going to take a calculator and add up all the fees ... And they may go to you and say, 'You said I was paying 1.3%, but this says I am paying 2%.'"

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