Many investment industry leaders worry that the proposed 401(k) fee-disclosure regulations being pushed through Congress would actually increase the fees investors pay — and their confusion.

"Regulators feel they need to add nuances to 401(k) fee disclosure, but what's it going to cost the industry to comply?" Fred Teufel, a principal of institutional retirement plan services at Vanguard Group, asked last week during a conference in Washington presented by the Society of Professional Asset-Managers and Record Keepers.

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