(Photo: Shutterstock)Some 40% of 401(k) plan participants do not fully understand and find it hard to use the fee information that the U.S. Department of Labor requires plans to provide to participants in fee disclosures, according to a report from the Government Accountability Office.
The report is based on GAO’s analysis of a survey administered by NORC at the University of Chicago in July and August to a nationally representative sample of 1,004 plan participants drawn from its pre-recruited AmeriSpeak web survey panel.