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Potential 401(k) Fee Disclosure Regs Sent to OMB

Sunday, Aug 04 2013
Regulatory & Compliance
Written by  PFA News

The Office of Management and Budget (OMB) is reviewing a rule proposal by the Department of Labor that could increase costs for 401(k) service providers by specifying fee disclosure requirement. So reports ThinkAdvisor.

The proposed regulation may stipulate that a list of items, including details on fees, that service providers must disclose to comply with 408(b)(2) requirements. The 408(b)(2) rule requires fiduciaries to provide sufficient information for plan sponsors to make informed decisions when selecting vendors.

Read the full article from ThinkAdvisor here.

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