John J. Topoleski
Analyst in Income Security
As households become more reliant on 401(k) plans and other defined contribution pension plans for future retirement income, policymakers have become more concerned that participants could be unaware of the fees charged in their plans. Small differences in fees charged can have large impacts on account balances upon retirement. This report provides information on the kinds of fees that are charged in 401(k) and other defined contribution plans and details the provisions of bills introduced in the 111th and 112th Congresses that address fee disclosure in retirement plans. In the 111th Congress, these bills are H.R. 2779, the Defined Contribution Plan Fee Transparency Act of 2009, introduced by Representative Neal on June 9, 2009; H.R. 2989, the 401(k) Fair Disclosure and Pension Security Act of 2009, introduced by Representative Miller on June 23, 2009; S. 401, the Defined Contribution Fee Disclosure Act of 2009, introduced by Senator Harkin on February 10, 2009; and H.R. 4146, the Sensible Transparency for Retirement Plans Act of 2009, introduced by Representative Kline on November 19, 2009. H.R. 2989 was reported out of committee on June 24, 2009.
Date of Report: January 7, 2011
Number of Pages: 20
Order Number: RL34678
Price: $29.95
Follow us on TWITTER at http://www.twitter.com/alertsPHP or #CRSreports
Document available via e-mail as a pdf file or in paper form.
To order, e-mail Penny Hill Press or call us at 301-253-0881. Provide a Visa, MasterCard, American Express, or Discover card number, expiration date, and name on the card. Indicate whether you want e-mail or postal delivery. Phone orders are preferred and receive priority processing.
Analyst in Income Security
As households become more reliant on 401(k) plans and other defined contribution pension plans for future retirement income, policymakers have become more concerned that participants could be unaware of the fees charged in their plans. Small differences in fees charged can have large impacts on account balances upon retirement. This report provides information on the kinds of fees that are charged in 401(k) and other defined contribution plans and details the provisions of bills introduced in the 111th and 112th Congresses that address fee disclosure in retirement plans. In the 111th Congress, these bills are H.R. 2779, the Defined Contribution Plan Fee Transparency Act of 2009, introduced by Representative Neal on June 9, 2009; H.R. 2989, the 401(k) Fair Disclosure and Pension Security Act of 2009, introduced by Representative Miller on June 23, 2009; S. 401, the Defined Contribution Fee Disclosure Act of 2009, introduced by Senator Harkin on February 10, 2009; and H.R. 4146, the Sensible Transparency for Retirement Plans Act of 2009, introduced by Representative Kline on November 19, 2009. H.R. 2989 was reported out of committee on June 24, 2009.
Date of Report: January 7, 2011
Number of Pages: 20
Order Number: RL34678
Price: $29.95
Follow us on TWITTER at http://www.twitter.com/alertsPHP or #CRSreports
Document available via e-mail as a pdf file or in paper form.
To order, e-mail Penny Hill Press or call us at 301-253-0881. Provide a Visa, MasterCard, American Express, or Discover card number, expiration date, and name on the card. Indicate whether you want e-mail or postal delivery. Phone orders are preferred and receive priority processing.
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