GAO Delays 401(k) Report Until May

A Government Accountability Office study of 401(k) plans, expected to be released in February, will now likely be issued in May, according to GAO. Published accounts quoted a GAO spokesperson citing staff diverted to other projects as the reason for the delay.

House Education and Labor Committee Chairman George Miller (D-Calif.) requested GAO do a series of reports on 401(k) fees and practices and has been the most active legislator calling for fees legislation. The upcoming report will be called "Plan Sponsor Practices and their Oversight by the Department of Labor," according to GAO officials.