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Tuesday, February 9, 2010
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Push under way for retirement plan disclosure
Better disclosure about the specifics of 401(k) fees and investments would be required under a bill unveiled in late July. HR 3185, introduced by Rep. George Miller, D-Calif., would require plan administrators to disclose all fees charged to plan participants; better upfront details about investment strategies, risks and returns; and potential conflicts of interest. The bill was referred to the Education and Labor Committee, which Mr. Miller chairs. For details of the bill, visit http://thomas.loc.gov
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