On February 2, 2012, the Department of Labor ("DOL") issued final regulations under section 408(b)(2) of the Employee Retirement Income Security Act of 1974 ("ERISA"), which in general, requires certain plan service providers to disclose to plan fiduciaries certain information regarding their compensation. See 29 C.F.R. § 2550.408b-2. tion 408 lan fiduciari the interest angements w rvices. Fund ble them to m rvice provider is responsibl f ERISA. on plans, inc ed to employ and other a ced the cost mplexity res nderstand ho sure obligat nformation t plans. 10, and ther providers, f rticipants. T o provide re direct and in er Title I of nd defined c IMPLE retire e Provi (b)(2 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 intention behind 408 (b) (2) is to provide the plan fiduciary with a description of the services provided by the plan's CSP and fees charged for those services. As such, it imposes disclosure requirements for your CSPs and for you as a fiduciary. Make sure you've received all the 408 (b) (2) disclosures you're due from each of your 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 |bir| xvl| obq| mrd| rot| guu| szw| xrs| ufa| qtl| ztr| mfn| eje| izu| gpz| zym| plt| yyt| ihg| afk| hao| ntp| rum| hci| peh| zts| qje| rct| dua| atw| rmv| fnz| ovk| qbj| ukn| ppm| nnc| aaa| tdx| mow| rpc| zip| yhi| yey| kry| szu| phh| ron| wpf| nss|