The U.S. Department of Labor in conjunction with the Investment Company Institute and other trade groups is urging employers to use a new form that requires 401(k) providers to make detailed disclosures about their fees.

The 401(k) Plan Fee Disclosure Form, introduced by the department July 15, calls on 401(k) providers to list investment management and administrative expenses for their services. Employers and 401(k) plan providers are not required to use the form, Department of Labor officials said. However, the form should increase 401(k) expense disclosure, particularly for employers at small companies, said mutual fund executives and consultants.

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