Given the growing number of lawsuits filed by 401(k) plan participants against plan sponsors over excessive 401(k) fees, improved and more transparent disclosure is no longer a nicety but a necessity. Now Inc., a record-keeping technology provider, has introduced its improved 401(k) Statement Extraction Tool, which posts vesting and reflects all plan fees on participants' statements in accordance with the requirements of the Pension Protection Act (PPA) of 2006. Among its many provisions, the PPA requires that quarterly participant statements reflect all costs that are associated with their 401(k) plan, including subsidies. With SaveDaily's revised statement extraction tool, all subsidies are posted to the plan and fees are fully disclosed on participant statements. Among the extraction tool's new features, SaveDaily can post vesting in the 401(k) plan to participants. SaveDaily now also offers flexible fulfillment options that can be selected per plan, including electronic and mail distribution. The extraction tool is part of SaveDaily's LiquidFinance Platform, a full-service, open-architecture record-keeping platform that provides the health savings account (HAS), defined contribution and asset management markets with a low-cost, easy-to-deploy platform. The platform can be privately labeled and is customizable.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including and

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.