New Federal rules will make 401k plans more affordable for smaller firms and their employees and do a better job of explaining costs.

The new rules require employers to explain how fees and costs affect returns on 401k plans. And a number of investment houses are also planning to offer new plans for smaller companies utilizing less costs, thus providing 401k plans to companies and their workers who till now had been shut out. In the past, 401K providers have priced their plans based on the size of the market. So that eliminated smaller companies and their employees.

Rider University finance expert Maury Randall says anytime there is more information for the persons making the financial decisions, this translates into transparency. He says this type of thing is good, and is definitely a step in the right direction.

Some of these "no-frills" investment plans may not micromanage the fund minute-by-minute, but they can still offer credible returns.