Fee Disclosure Articles...

 

Sungard Relius (www.relius.net) The Department of Labor has published a direct final rule that provides plan administrators with a two-month grace period for delivering required annual participant level fee and investment desclosures. This modification will alleviate concerns regarding "creeping deadlines" in which plan administrators who furnished the required disclosures any time prior to the expiration of the 12-month deadline would accelerate the deadline for susequent plan years.

 

By Ary Rosenbaum, Esq. Ringling Bros. and Barnum & Bailey Circus has been around for more than a century and it proclaims itself to be the "Greatest Show on Earth".  In 1985, the Greatest Show on Earth presented a living Unicorn.  Of course, the problem was that a unicorn is a mythical creature.  How Ringling Bros. thought that a goat with a horn sticking through its head could be pawned off as something that doesn't exist is beyond me.  In the 401(k) retirement plan industry, one of our "unicorns" is the idea that 401(k) plan sponsors could have their plans administered for free.

 

By Bret F. Busacker
Hawley Troxell Attorneys and Consultants (www.hawleytroxell.com) Retirement plan sponsors with individual account plans (including profit sharing, 401(k) and 403(b) plans) should begin to prepare participant fee disclosure notices for 2013.  The 2013 notice is generally due within 12 months of the date the 2012 notice was provided.

 

By Fred Reish, Bruce L. Ashton and Summer Conley
DrinkerBiddle Plan sponsors have a fiduciary duty to make disclosures to participants about brokerage accounts.  This Bulletin discusses what plan sponsors must disclose for brokerage accounts.

 

www.plansponsor.com "The main thing...don't get excited."  That quote, used repeatedly by my late Uncle John for crossroads both small and large, is an inside joke among my family members, but during a discussion with Kevin Watt, senior vice president of Security Benefit's defined contribution group, it seemed to me like an appropriate opening for recently received fee disclosures.

 

www.erisadiagnostics.com Checklist document that provides general and detailed information about 404(a)(5) participant fee disclosure rule.

 

US Department of Labor The Department of Labor's Employee Benefits Security Administration (EBSA) released a final rule that will help America's workers manage and invest the money they contribute to their 401(k)-type pension plans.  The rule will ensure: that workers in this type of plan are given, or have access to, the information they need to make informed decisions, including information about fees and expenses; the delivery of investment-related information in a format that enables workers to meaningfully compare the investment options under their pension plans;...

 

Sungard Relius (www.relius.net) Last week,  the DOL changed its guidance dealing with participant disclosures on brokerage accounts, removing controversial Q&A 30 of FAB 2012-2 and replacing it with Q&A 30 of FAB 2012-2R.  This Technical Update focuses on plans which provide participants the option to direct their investments through brokerage accounts, and do not otherwise provide a set of designated investment alternatives (DIAs) for participant selection.

 

US Department of Labor (www.dol.gov) The U.S. Department of Labor's Employee Benefits Security Administration today issued Field Assistance Bulletin No. 2012-02R, which supersedes Field Assistance Bulletin No. 2012-02 (issued May 7, 2012) by modifying and replacing Q&A 30 with a new Q&A 39...

 

By Fred Reish, Joan Neri, Joshua Waldbeser, and Bruce Ashton
DrinkerBiddle.com July 1 was a watershed date in the ERISA world.  By that date, covered service providers to ERISA-governed retirement plans had to provide written disclosures about their service, fiduciary status and compensation to the "responsible plan fiduciary"...

 

US Department of Labor (www.dol.gov) On October 20, 2010 the Department of Labor published a final regulation requiring plan administrators to disclose certain plan and investment-related information, including fee and expense information, to participants and beneficiaries in participant-directed individual account plans....

 

US Department of Labor (www.dol.gov) US Labor, Treasury Departments act to enhance retirement security for an America built to last. Executive actions increase transparency, broaden options for 401(k) savers.

 

US Department of Labor (www.dol.gov) This document contains a final regulation under the Employee Retirement Income Security Act of 1974 (ERISA or the Act) requiring that certain service providers to pension plans disclose information about the service providers' compensation and potential conflicts of interest.

 

US Department of Labor The Employee Retirement Income Security Act (ERISA) requires plan fiduciaries, when selecting and monitoring service providers and plan investments, to act prudently and solely in the interest of the plan's participants and beneficiaries.

 

US Department of Labor (www.dol.gov) The operative language of the final 408b-2 service provider fee disclosure rule reflects certain modifications to the interim final rule (IFR) that was published in the Federal Register on July16, 2010.

 

US Department of Labor (www.dol.gov) The US Department of Labor's Employee Benefits Security Administration today announced the it intends to extend the applicability date for the new disclosure rules under section 408(b)(2) of ERISA to Jan 1, 2012.

 

US Department of Labor Employee Benefits Security Administration The Employee Retirement Income Security Act (ERISA) requires plan fiduciaries, when selecting and monitoring service providers and plan investments, to act prudently and solely in the interest of the plan's participants and beneficiaries....

 

 

 

Current News...