TSP already complies with reporting fees ahead of new requirement for private plans

Monday - 1/30/2012, 6:38pm EST

Tom Trabucco, director of external affairs, Federal Retirement Thrift Investment Board

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Many financial experts love the Thrift Savings Plan, federal employees' 401(k) retirement savings plan, for a number of reasons. One of them is the low fees.

Now, the Labor Department is issuing new regulations on fees in private-sector retirement plans, announcing that private employee-sponsored retirement plans will have to change how they report those fees.

Tom Trabucco, the director of external affairs at the Federal Retirement Thrift Investment Board, told In Depth with Francis Rose that even though the TSP isn't subject to the new regulations, it already provides to TSP participants the information the new rules will require for private-sector plans.