Retirement Plans

Sponsors of 401(k) plans typically don’t provide enough information about the fees charged by mutual funds and other investment products, and Congress should require them to disclose investment and recordkeeping fees that participants bear, according to a GAO report.

The study recommended that Congress amend the Employee Retirement Income Security Act (ERISA) to prohibit plan sponsors from providing the information “in a piecemeal fashion” that makes direct comparisons difficult. Congress also should amend ERISA to require 401(k) service providers to reveal any compensation they receive from other providers, the GAO proposed. In addition, the Department of Labor should require plan sponsors to report summaries of fees paid by participants out of plan assets, the GAO said. The full report is available at .


6 key areas of change for accountants and auditors

New accounting standards on revenue recognition, leases, and credit losses present implementation challenges. This independently-written report identifies the hurdles that accounting professionals face and provides tips for overcoming the challenges.


How tax reform will impact individual taxpayers

Amy Wang, a CPA who is a senior technical manager for tax advocacy at the AICPA, answers to some of the most common questions on how the new tax reform law will impact individual taxpayers.