Fiduciary News Features Portico Principal’s Opinion on the Success of 401(k) Fee Disclosure

July 16th, 2013
by Portico Wealth Advisors

Fiduciary News, a website that provides essential information and commentary regarding ERISA fiduciary/401(k) issues, featured comments from Jonathan Leidy, Portico principal, in its recent article on fee disclosure.

With the 1-year anniversary of fee disclosure upon us, Leidy provided commentary regarding the success of the undertaking to date. Looking at the success of fee disclosure from two different perspectives, the employer/plan sponsor and the employee/participant, he had the following to say:

“In the case of plan sponsors, fee disclosure seems to have been moderately successful; Sponsors are both more aware that they are actually paying something for their plans, and specifically how much they are paying for their investment options.  With respect to participants, disclosures have been an utter non-event.  We have literally sat down with hundreds of employees since fee disclosures first went into effect.  During that time, not one of them has inquired about fees, and in particular, about 404(a)(5) disclosures”.

To see Leidy’s full comments and to read the rest of the article follow this link: