In a much anticipated move, the US Department of Labor is expected to issue a Proposed Regulation sometime this Spring on qualified retirement plans (including 401(k) plans) requiring investment and service providers to disclose information concerning direct and indirect compensation, fees and other financial arrangements.

The additional fee and expense information is intended to help plan sponsors make informed choices among providers. The proposed changes will “make it easier for regulators and plan officials to ensure workers’ interests are protected,” says Acting Assistant Secretary of Labor Bradford Campbell.

Campbell has called fee transparency “a top priority” for the DOL.

For the benefit of both plan participants and plan sponsors, let’s hope that the Proposed Regulation has a broad reach.