U.S. Department of Labor Extends Effective Date of Service Provider Fee Dislosure Rule | Employment Law
On July 13, 2011, the U.S. Department of Labor issued a final rule that extends by three months, from January 1, 2012 until April 1, 2012, the effective date for service providers to comply with final regulations concerning disclosure of fees and costs to the responsible plan fiduciary. (See related articles under the “Latest News” tab.) It is anticipated that this extension will provide plan fiduciaries with sufficient time to compile the necessary fee and investment information from service providers to allow them to disclose complete and accurate information relating to retirement plan investment costs to participants on a timely basis. If you have any questions concerning these regulations or any other issues involving employee benefit plans, please feel free to contact us.