DOL Finalizes New ERISA Disclosure Rules for Participant-Directed Retirement Plans

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On October 20, 2010, the U.S. Department of Labor (DOL) published a final regulation imposing new disclosure requirements for participant-directed individual account retirement plans. The final regulation requires the plan administrator of such a plan to:

Provide participants quarterly statements of plan fees and expenses deducted from their accounts; Also provide, prior to a participant’s initial plan investment and at least annually thereafter, certain information about both the plan and the investments available under the plan, including the cost of those investments...

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Published In: Administrative Agency Updates, Finance & Banking Updates, Labor & Employment Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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