News & Analysis as of

Fee Disclosure

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

In Praise Of Fee Disclosure

People who didn’t sponsor a plan or weren’t involved in the retirement plan industry before 2012, think some 401(k) industry veterans like myself, are part of some multiverse when we talk about life before fee disclosure. The...more

Kelley Drye & Warren LLP

State AGs and Junk Fees - Where the Rubber Meets the Road

Junk fees have made, and continue to make, state attorney general headlines with recent actions by Maryland and Rhode Island relating to consumer transportation. The rubber met the road when Maryland Attorney General Anthony...more

Winthrop & Weinstine, P.A.

Legislative Top 5 — March 2024

Minnesota’s Budget and Economy Improve Minnesota Management and Budget released the February Budget and Economic Forecast on Thursday, February 29, showing improvement since the November Forecast. The current 2024-25 biennium...more

Troutman Pepper

State AGs Support FTC’s Proposed Rule Prohibiting “Junk” Fees

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On February 7, a coalition of 19 state attorneys general (AG) filed a comment letter supporting the Federal Trade Commission’s (FTC) proposed Trade Regulation Rule on Unfair or Deceptive Fees (Rule). The state AGs echoed the...more

Fox Rothschild LLP

NY State Mandates Disclosure of Credit Card Surcharges

Fox Rothschild LLP on

Under a new law that took effect on February 11, 2024, all “sellers” in New York who apply a credit card surcharge to sales transactions must now comply with certain consumer disclosure requirements. Signed into law by...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Always trying to find an angle for an ERISA lawsuit

Fee disclosure regulations and a whole bunch of excess fee settlements in litigation have curbed excessive fees. So ERISA litigators, especially on the low end, are trying to. find angles for litigation....more

Snell & Wilmer

2023 End of Year Plan Sponsor “To Do” List (Part 3) Qualified Retirement Plans

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As 2023 comes to an end, we are pleased to present our traditional End of Year Plan Sponsor “To Do” Lists. This year, we present our “To Do” Lists in four separate SW Benefits Updates. Part 1 covered health and welfare plan...more

Brownstein Hyatt Farber Schreck

White House, CFPB, FTC Advance "Junk Fee" Crackdown

On Oct. 11, 2023, the White House released a fact sheet describing new and forthcoming actions taken by the Biden administration that continue its focus on so-called “junk fees.” The announcement highlighted efforts between...more

Troutman Pepper

DC OAG Issues Guidance on Restaurant Fee Disclosures

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On August 9, District of Columbia Attorney General Brian L. Schwalb issued a Supplemental Business Advisory regarding restaurants’ obligation to properly disclose service fees and charges to diners. The advisory comes after...more

Brownstein Hyatt Farber Schreck

Crackdown on Consumer Fees Continues at Federal Agencies

A new Federal Trade Commission (FTC) Notice of Proposed Rulemaking (NPRM) concerning advertising, add-on products and new disclosures in the motor vehicle marketplace could have a major impact on industry participants. Using...more

Paul Hastings LLP

Credit Funds: Riding the Sea of Change

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We are delighted to bring this edition of Spotlight Magazine to you after the disruption of the past two years and the COVID-19 pandemic. There has been a sea of regulatory change that has evolved during this time, masked by...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

401(k) Averages Book Shows More Fee Compression

Since 2012 with fee disclosure regulations, we have seen 401(k) fee compression and the latest 401(k) Averages Book shows that it’s continuing....more

Payne & Fears

Hospitals’ Potential Liability for Failing to Disclose Emergency Room Facility Fees Explored by California Court of Appeal

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California hospitals should be aware of a new California Court of Appeal decision that explores whether hospitals can be held liable for failing to disclose their emergency room fees to patients prior to evaluating/treating...more

Foley & Lardner LLP

401(k) Compliance Check #4: Required Participant Notices

Foley & Lardner LLP on

In last month’s 401(k) Compliance Check, we discussed what to do if you inadvertently failed to enroll someone in your 401(k) plan. In this month’s Compliance Check, we focus on the variety of typical notices that are...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Focusing on fees, blinds you

For the past 9 1/2 years, fee disclosure has certainly helped you as a plan sponsor to finally understand the true cost of plan administration. That’s important because you have a fiduciary duty to only pay reasonable plan...more

Snell & Wilmer

An Interesting Intersection: No Surprises Act Claims and the New Fee Disclosure Requirements for Group Health Plans

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As reported in our January 7, 2022 SW Benefits Blog “The DOL Asks and Answers Questions About the New Welfare Plan Fee Disclosure Rules,” group health plans must now comply with the ERISA Section 408(b)(2) disclosure...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Temporary Enforcement Policy Announced on Fee Disclosure Requirements for Group Health Plan Service Providers

Through Field Assistance Bulletin 2021-03 (FASB 2021-03), the Department of Labor (DOL) announced a temporary enforcement policy for the new fee disclosure requirements that apply to group health plan service providers, added...more

Snell & Wilmer

The DOL Asks and Answers Questions About the New Welfare Plan Fee Disclosure Rules

Snell & Wilmer on

In Field Assistance Bulletin 2021-03 (12/31/21) (FAB), the Department of Labor (DOL) issued guidance and temporary enforcement policy to address the new 408(b)(2) disclosure requirements that apply to certain service...more

BCLP

The SEC’s Recent Observations from Examinations into Advisers’ Fee Calculations

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Key Takeaways: ..On November 10, 2021, the SEC released a Risk Alert which provides observations from recent examinations into advisers’ fee calculations. ..In yet another bleak report, the SEC declared that “most”...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

A marketing Tip on TPA fees

The one drawback in the fee disclosure regulations was that the Department of Labor (DOL) never bothered to develop a model fee disclosure form for plan providers, I understand the hesitancy of the DOL because it’s hard to...more

Robins Kaplan LLP

Financial Daily Dose 5.7.2021 | Top Story: Improving Unemployment Figures Buoys Hopes for Strong April Jobs Report

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New jobless claims fell dramatically in new figures released on Thursday, as “the improving public health situation and the easing of pandemic-related restrictions allowed the labor market to continue its gradual return to...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

401(k) fees are still sliding

The beauty of fee disclosure regulations and technological breakthroughs is that 401(k) fees have been sliding. Even 9 years after the promulgations of the fee disclosure regulations, it’s still sliding....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Well, it used to be worse

When I was younger, I was a pessimist. Everything to me, like a bad grade in Civil Procedure I was the end of the world and I realized eventually, that it wasn’t. I learned optimism is easier to manage than pessimism....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

TPAs need clear contracts

As an ERISA attorney, my retainer agreements are pretty straight and clear. Governed by the laws that govern attorney behavior, I have no choice. Yet, Third Party Administrators (TPAs) don’t have guidelines to live by. ...more

Dickinson Wright

Fee Disclosures Coming for Group Health Plans

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The Consolidated Appropriations Act ("CAA") includes a number of provisions enhancing transparency in the operation of group health plans. One of those provisions will require brokers and consultants to make fee disclosures...more

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