Click the "add event" button to create a listing for your event
The U.S. Department of Labor’s Employee Benefits Security Administration announced issuance of a final rule requiring disclosure of fees and expenses associated with management of their 401(k)-type retirement plans. Under the rule, workers will receive this information in a format that enables them to meaningfully compare the investment options under their plans.
The final regulation requires plan fiduciaries to:
The final rule requires that a plan provide the following information:
The DOL Fact sheet provides an explanation of the information contained in each of these categories as well as an explanation of how plan sponsors comply. The DOL Fact Sheet regarding compliance is available here. A copy of the rule is available here.
The DOL also prepared a Model Comparative Chart that is available by accessing the DOL website (http://www.dol.gov/ebsa/) and selecting the Model Chart Option under the title "Final Rule to Improve Transparency of Fees and Expenses to Workers in 401(k)-Type Retirement Plans."
For compliance assistance or with questions, please contact your attorney at Fox Rothschild.