The Department of Labor released new rules on Thursday designed to force companies that provide 401(k) plans and services to employers to spell out all the fees charged.

Any service provider paid more than $1,000 in connection with retirement accounts must provide detailed reports on fees, according to the new rules. That includes brokerage services and recordkeeping companies.

Labor officials will give retirement plan providers a year to plan for the new rules.

The department will publish the regulations tomorrow in the Federal Register and take comments until Aug. 30. It's specifically seeking comments on the costs service providers will incur by providing a summary statement of fees to companies offering 401(k) plans to workers.

The new rules go into effect on July 16, 2011.

Forcing the detailed release of fees will benefit millions of 401(k) participants and their families, Secretary of Labor Hilda L. Solis said in a statement.

Rep. George Miller, who tried unsuccessfully to get fee legislation passed, said the rules are an important step in ensuring that employers have the information on fees in the plans they sponsor.

"With families making difficult decisions to put something away for their retirement, it is vital that these plans work for the benefit of plan participants, not Wall Street's bottom line," Miller said in a statement.

He said he supports the DOL rules because they give employers critical information to help workers get a good deal.

He said he plans to continue to fight for legislation that would make rules federal law.

The Department of Labor has said a one-percentage point difference in fees would reduce overall retirement income by 28 percent over a lifetime of saving.