Putnam Investments will reveal all of the fees in the defined contribution plans it manages through a new sponsor website that launches next month.

There, employers will see, in real dollars rather than percentages, all of the fees charged in their 401(k) -- including investment management, servicing/advisory fees and recordkeeping fees. The asset management fees will also be differentiated from servicing charges, and Putnam will also reveal all of the revenue paid to asset management firms on the DC platform.

Later this summer, plan participants will be provided with information on fund expense ratios, transaction fees and “other information that will enable them to determine their own individual cost,” Putnam said.

“We believe working people and employers have a right to know exactly what they are paying for all elements of their 401(k)s and other retirement plans,” said Putnam President and CEO Robert L. Reynolds.

“Full, clear disclosure is a vital element in building a stronger retirement savings system for America,” Reynolds added. “The commitment we’re making to enhanced fee and expense disclosures is our answer to that need, which we hope will set new standards for transparency in our industry. Plan sponsors and participants need detailed, useful, actionable information to make the right decisions.”

Commenting on the disclosure, Dallas Salisbury, president and CEO of the Employee Benefit Research Institute, said: "I have actually sat and experienced the software, and it is extraordinarily thorough and impressive, and will set a very high standard for all 401(k) providers."