On July 22, 2013, the U.S. Department of Labor, Employee Benefits Security Administration (EBSA) issued Field Assistance Bulletin No. 2013-02 (the “FAB”). In the FAB, the EBSA announced a temporary policy in which it would not take any enforcement action against a retirement plan sponsor which fails to provide the required participant fee disclosures under
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Participant Fee Disclosures
Reminder: Retirement Plan Fee Disclosures Received? –Review and Pass it Along
By Jeffrey Cairns on
Defined contribution plan fiduciaries were required to receive fee disclosures from covered service providers by July 1, 2012 pursuant to final regulations under ERISA §408(b)(2). See Blog Posts. https://benefitsnotes.com/2012/05/labor-issues-qas-on-required-fee-disclosures-to-participants/ https://benefitsnotes.com/2012/04/408b-2-disclosures-that-wasnt-so-bad-was-it/ A separate Labor Regulation now requires that plan administrators provide an initial fee disclosure to plan participants and beneficiaries by August 30, 2012 and begin…