Publication
Employee Benefits Update – Department of Labor Issues Final Fee Disclosure Regulation for Qualified Plans
Department of Labor Issues Final Fee Disclosure Regulation for Qualified Plans
On February 2, 2012, the Department of Labor’s Employee Benefits Security Administration (EBSA) issued final regulations relating to the disclosure of information by those who provide services to certain employee benefit plans. These regulations, which are referred to below as the “Service Provider Fee Disclosure Regulations,” represent the final piece of the EBSA’s two-pronged effort to improve the disclosure of pertinent information to both plan fiduciaries and plan participants. The second prong, the Participant Disclosure Regulations, was finalized on October 14, 2010. The final Service Provider Fee Disclosure Regulation reflects certain changes to the interim final rule that was published in the Federal Register on July 16, 2010.
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