You might recall last week I wrote about the DOL's new rule requiring disclosure of fees and expenses associated with management of their 401(k)-type retirement plans. At that time, the proposed rule was available. The DOL has now issued the Final Rule on Fiduciary Requirements for Disclosure in Participant-Directed Individual Account Plans. As anticipated, the Final Rule requires that a plan provide the following information:
- General Plan Information
- Administrative Expenses Information
- Individual Expenses Information
- Statements of Actual Charges or Deductions
- Investment-Related Information
- Performance Data
- Benchmark Information
- Fee and Expense Information
- Internet Website Address
- Glossary
For compliance assistance or with questions, please contact your attorney at Fox Rothschild.