Fees Disclosures Are Here, Now What? Plan Sponsor’s Responsibilities Going Forward

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Fees Disclosures Are Here, Now What? Plan Sponsor’s Responsibilities Going Forward

by Gary S. Young on July 20, 2012

Plan sponsors should have now received fee disclosures from their “Covered Service Providers” (CSPs). If you did not receive such information, you must notify the U.S. Department of Labor (DOL) who will then take appropriate action (CSP failure will become you failure if you fail to notify the DOL).

Assuming that you did receive such required disclosures, understand that this is only the beginning of what you must do as a plan fiduciary. It is now your fiduciary responsibility to review and analyze the provided information...

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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.

© Gary Young, Scarinci Hollenbeck, LLC | Attorney Advertising

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