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February 8, 2012, Featured Articles, 401(k)/IRA, Regulations/Legal
An Interview with David Wray
Don't expect participants to revolt when they see how high their 401k fees are, and don't expect 12b-1 fees to disappear, said the president of the PSCA. But the problem of 'fee bracket creep' should be fixed by new federal rules.
As the president of the Profit Sharing Council of America, an association of retirement plan sponsors of all sizes, David Wray is in a good position to evaluate the potential impact of the Obama administration’s efforts to change the way Americans save for retirement.
We spoke recently with Wray and asked for his views on the February 2 announcement by the Departments of Labor and Treasury regarding the creation of new requirements for fee disclosure in retirement plans and the removal of certain technical roadblocks to turning qualified savings into retirement income.
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