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March 11, 2014 AT 11:34 AM
The Department of Labor on Tuesday proposed a rule requiring pension plan service providers to offer a guide to help employers navigate disclosures about fees and potential conflicts of interest. The proposal amends a 2012 regulation that forced service providers to present detailed information about fees and services associated with 401(k)s and other retirement plans. However, the Labor Department said it feared that such disclosures were getting lost in lengthy and complicated documents.