Due Date Extension for Fee Disclosure

"The DOL has just released the final amendments to the service provider fee disclosure regulations (under ERISA 408(b)(2)) and the participant fee disclosure regulations (under ERISA 404(a)(2)). Both regulations are being delayed," according to a Technical Update published on the SunGard/Relius website.

 

The newly amended rule moves the due date for service provider fee disclosure regulations to April 1, 2012.

 

The participant fee disclosure regulations apply for plan years beginning after October 31, 2011, as originally required, but the newly amended rule delays the deadline for plans to provide the initial annual and quarterly disclosures under those rules.

 

The Technical Update explains the new rules and provides a chart that summarizes the effects of the new rules for a calendar year plan.

 

Baden Retirement Plan Services is preparing its service provider fee disclosure information and materials and will provide them to its clients as they become available.

 

Please contact us with questions about the new service provider and participant fee disclosure rules.