Business groups testified last week that disclosing 401(k) fees to investors would confuse them, while shareholder advocates said it would lead to lower fees and a better quality of life for retirees because that would boost their savings, the Los Angeles Times reports.

Opponents to more disclosure also said it would raise plan expenses. More information would be “burdensome, complex and likely to increase participant confusion rather than enhance knowledge [and] would confuse most participants and possibly hinder rather than help them make investment decisions,” said Lew Minsky, an attorney representing various business groups, including the U.S. Chamber of Commerce, the Profit Sharing/401(k) Council of America and the ERISA Industry Committee, which works with corporations on pension issues.

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