• New DOL Disclosure Rules
  • July 22, 2011 | Author: D. J. Simonetti
  • Law Firm: Burr & Forman LLP - Birmingham Office
  • This outline summarizes two recently issued sets of DOL disclosure rules from the perspective of the employer/plan sponsor. The first set, issued under ERISA §408(b)(2), deals with disclosures that a "service provider" ("SP") must make to the "responsible plan fiduciary"("RPF") in order to avoid a prohibited transaction. The second set, issued under ERISA §404(a), deals with disclosures that the plan administrator ("PA") must make to participants in self-directed plans in order to avoid a breach of fiduciary duty.