• DOL Issues Final Regulations on Participant Fee Disclosures for 401(k) and Other Individual Account Plans
  • October 26, 2010 | Authors: Kathleen O'Connor Adams; Gary D. Ammon; David Levin; Howard J. Levine; Michael D. Rosenbaum
  • Law Firms: Drinker Biddle & Reath LLP - Chicago Office ; Drinker Biddle & Reath LLP - Philadelphia Office ; Drinker Biddle & Reath LLP - Washington Office ; Drinker Biddle & Reath LLP - Chicago Office
  • The Department of Labor (DOL) on October 14, 2010, issued long-awaited final regulations requiring broad disclosures of fees, expenses, and certain other plan and investment-related information to participants and beneficiaries under participantdirected individual account plans, such as 401(k) and 403(b) plans, that are subject to the fiduciary provisions of ERISA. The new requirements do not apply to governmental and non-electing church plans, nor to IRA-based plans such as SEPs and SIMPLE plans.