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November 3, 2008 DOL Home > Newsroom > News Releases | ![]() |
News Release EBSA News Release: [09/17/2008] U.S. Department of Labor official testifies before Senate committee on fee disclosures for 401(k)-type plansWASHINGTON Bradford P. Campbell, assistant secretary of labor for the U.S. Department of Labor's Employee Benefits Security Administration (EBSA), today testified before the Senate Committee on Health, Education, Labor and Pensions on initiatives to expand disclosure of fees and expenses in 401(k)-type plans to an estimated 65 million workers, employee benefit plan fiduciaries and the government. Campbell's testimony focused on three regulatory initiatives to improve fee disclosure and transparency in a manner that is appropriate and cost-effective for workers and plan fiduciaries. "Together these rules will ensure that millions of American workers and plan officials get the information they need to make informed decisions about plan services and investments. Our ultimate goal is to ensure that plans and workers pay only fair, competitive and transparent prices for services to their plans," Campbell said. In his testimony, Campbell discussed key elements of EBSA's regulatory initiatives to improve plan fee disclosure. These include:
The full text of today's testimony is available on the Labor Department's Web site at www.dol.gov/ebsa. # # #
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