New Rules on Fee Disclosures for Retirement Plans
February 9, 2012
The Department of Labor has recently released the final rules on fee disclosures (also known as the 408(b)(2) rules), which are designed to increase transparency of fees inside retirement plans. After several delays, the effective date is July 1, 2012. The DOL press release (http://www.dol.gov/opa/media/press/ebsa/EBSA20111653.htm) says "The measures will expand transparency in the 401(k) plan marketplace and broaden the availability of retirement plan options so that Americans can maximize their ability to save responsibly and securely." The final regulations are 109 pages long, but the DOL has also provided a Fact Sheet (http://www.dol.gov/ebsa/newsroom/fs408b2finalreg.html ) and a summary of the changes from the interim rules (http://www.dol.gov/ebsa/408b2changes.html )
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