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ARTICLE · 23 MAY 2012

DOL Issues Field Assistance Bulletin Clarifying Participant Fee Disclosure Rules

Ogletree, Deakins, Nash, Smoak & Stewart
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On October 10, 2010, the Department of Labor (DOL) published final rules requiring plan administrators to disclose certain fee and investment related information to participants and beneficiaries in participant-directed individual account plans (generally, 401(k) plans) (the Participant-Level Disclosure Rules).

United StatesEmployment and HR
Tia Martarella
Tia Martarella
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On October 10, 2010, the Department of Labor (DOL) published final rules requiring plan administrators to disclose certain fee and investment related information to participants and beneficiaries in participant-directed individual account plans (generally, 401(k) plans) (the Participant-Level Disclosure Rules). On May 7, 2012, the DOL published Field Assistance Bulletin No. 2012-02 (FAB) clarifying some of the most frequently asked questions with respect to the Participant-Level Disclosure Rules. The FAB also provides some clarifying information with respect to the provisions of the DOL final rules regarding service provider fee disclosures to plan fiduciaries (the Service Provider Rules) (see the February 10, 2012 issue of the Benefits eAuthority).

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