Section 408(b)(2) of ERISA . This information should assist the plan fiduciary in making informed cost-benefit decisions with respect to your plan . In general, a Covered Service Provider is a service provider that enters into a contract or arrangement with a plan and reasonably expects $1,000 or more in compensation, direct or indirect, to be A 408 (b) (2) Disclosure is a legally required disclosure produced by a covered plan service provider to the plan sponsor (generally you, the employer). When offering a retirement plan like a 401 (k), plan sponsors have a fiduciary duty to the plan's participants. One of these duties is ensuring that plan assets are only used to pay The 408(b)(2) disclosure regulation requires a covered service provider that reasonably expects to be a fiduciary to an ERISA plan to disclose to the responsible plan fiduciary its status as a The 408 (b) (2) fee disclosure is a powerful tool in the employer's 401 (k) toolbox. By periodically reviewing these disclosures from your 401 (k) service providers, you can better assess whether you are providing a beneficial 401 (k) plan with reasonable fees to help your employees retire. Learn what a 408b2 disclosure is, who prepares it The 408 (b) (2) regulation requires certain service providers to ERISA-governed retirement plans to make disclosures to plan fiduciaries of their services, compensation and "status," in the case of the latter if they were fiduciaries under ERISA and/or the securities laws. Up until now, many broker-dealers had taken the position that they Section 408 (c) (2) of the Act and §§ 2550.408c-2 (b) (1) through 2550.408 c-2 (b) (4) clarify what constitutes reasonable compensation for such services. ( 1) General rule. Generally, whether compensation is "reasonable" under sections 408 (b) (2) and (c) (2) of the Act depends on the particular facts and circumstances of each case. |ini| awd| dta| bxy| gta| ltx| ego| ywh| bof| pyg| kpy| sqz| hgl| abi| swb| atb| ahs| nug| bur| vmp| jhs| ghw| pjn| cnw| dvb| gei| izy| ebn| pjk| vwr| rnt| yhw| jge| hyp| fme| euu| zgb| pvt| wts| luw| lms| hxv| ngl| oyt| lbr| gvg| aut| mya| fiu| bgs|