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July 1st 2012 - When FREE Becomes Expensive, 408 b2 & 404 a5. What HR & Plan Sponsors Need to Know

Topic:
July 1st 2012 - When FREE Becomes Expensive, 408 b2 & 404 a5. What HR & Plan Sponsors Need to Know
Date:
May 9, 2012 at 3:30 - 4:30 PM ET
Presenters:
James Holland, Assistant Compliance Officer (MillenniuM Investment & Retirement Advisors, LLC)
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Description
On July 1st, 2012 72 million Americans are going to find out their 401k/403b is not free. Service Providers are going to be sending information to Plan Sponsors who in turn will have to decipher this information to send out to each participant in their plan. What is required in these disclosures? How must they be sent out? Is our plan ERISA Compliant? Where do I go to get information on how to better understand the information my Service Providers send me? What happens if the provider is late in sending the information? Are there sources out there to help me? In what format must these disclosures be made? What information must be in the disclosure? All of these questions and more will be addressed during the webinar so Plan Sponsors & HR can be proactive and get out in front of the new disclosure rules. Fee disclosure is one of the biggest changes we have seen in the ERISA space and the responsibility and liability is enormous. Every HR & Finance professional who at any point in time during the year has their finger prints on the 401k/403b must attend this program. The Retirement Plan is set up solely for the benefit of the participants and their beneficiaries; this is clearly stated in ERISA. ERISA also clearly states that if you are a Responsible Plan Fiduciary (RPF) and you are not an expert in ERISA, you are required to hire an independent, un-conflicted qualified expert to help you. There are going to be plan participants lined up outside HR demanding answers to why they are just learning about these expenses now. How long have I been paying these? Who gets these fees? What did I get in return for these fees? Is this the best plan possible? Are there less expensive options out there? How did you decide to choose these vendors? Who actually makes that decision? What is my recourse if I am not satisfied with the answers I am getting? Fee disclosure is going to be a very complicated issue, no one Human Resource professional needs to answer alone. Join us for this webinar and come find out who is available to help guide you through this very detailed and complicated process.
Who Should Participate
Any HR, finance or Corporate officer who has any connection to their 401k/403b plan.
What You Will Learn
• You will learn where to go to help you better understand the disclosure information you will be receiving from Service Providers. • You will learn ways to communicate this information to plan participants in a positive light • You will learn how to help make your plan ERISA compliant.
Recommended Resources
Visit the EBSA or DOL website. Google terms like Fee Disclosure, Tips for Plan Fiduciaries, DOL Fee Disclosure
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Benefits - Cost Containment, Audits and Legal Risks
Presented by
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James Holland
MillenniuM Investment & Retirement Advisors, LLC

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Event Sponsors
MillenniuM Investment & Retirement Advisors, LLC
MillenniuM based in Charlotte, is a Fiduciary Advisory firm for 401k and 403b plans. Specializing in reducing costs, eliminating conflicts of interest, and ensuring strict compliance with IRS and DOL
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