Massachusetts S1794 requires retirement plan administrators to disclose conflicts of interest to participants.

Massachusetts S1794 amends Chapter 71 of the General Laws to mandate that administrators of retirement plans offered by political subdivisions must disclose certain information to plan participants. Specifically, administrators must reveal the fee ratio and net return for each investment and the fees paid to any investment advisor. These disclosures must occur upon initial enrollment and annually thereafter. The bill defines "retirement plan" as any plan created under Section 403(b) of the Internal Revenue Code.

Massachusetts S1794 requires retirement plan administrators to disclose conflicts of interest to participants.

Massachusetts S1794 amends Chapter 71 of the General Laws to mandate that administrators of retirement plans offered by political subdivisions must disclose certain information to plan participants. Specifically, administrators must reveal the fee ratio and net return for each investment and the fees paid to any investment advisor. These disclosures must occur upon initial enrollment and annually thereafter. The bill defines "retirement plan" as any plan created under Section 403(b) of the Internal Revenue Code.