The U.S. Department of Labor’s fee disclosure regulations which take effect in 2012 under the Employee Retirement Income Security Act (ERISA) significantly impacts both retirement plan sponsors and service providers. Sponsors of retirement plans will be subject to an extensive set of changes which will require them to be substantially more proactive and diligent in fulfilling their fiduciary responsibilities.
The new regulations, which are designed to improve transparency by requiring service providers and employers to disclose specific information about plan and investment costs, involve two levels of disclosures – a fiduciary level in which service providers must disclose information to plan sponsors, and a participant level in which plan sponsors must disclose information to plan participants. Is your company ready?
In this one-hour webinar, employee benefits attorneys Bill Freudenrich and Jim Prince join attorney-moderator Richard Nix to discuss what these new fee disclosure regulations mean for employer-sponsors of plans, help employers strategically prepare for the upcoming spring deadlines, and assist them in avoiding the penalties and liabilities associated with noncompliance.
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» Resource page with additional information, including answers to the frequently asked questions from webinar