Fee Disclosure

General information

This is for informational purposes only and is not intended to be legal advice. Please consult your own attorney if you have specific questions relative to the application of these rules to your particular facts and circumstances.

Department of Labor (DOL) issued regulations requiring the disclosure of fees and expenses for defined contribution plans subject to the Employee Retirement Income Security Act of 1974 (ERISA):

1. By certain service providers to retirement plan fiduciaries (DOL regulation §2550.408b-2); and
2. By plan fiduciaries to their employees who are eligible to participate in the retirement plan, whether or not they participate in the plan (DOL regulation §2550.404a-5). Under this regulation, disclosure must also be provided to beneficiaries of deceased participants and alternate payees under a Qualified Domestic Relations Order (QDRO), who have the right to direct the investment of assets held in their account under the plan.

To stay current on any DOL fee disclosure developments, please be sure to bookmark and visit this site regularly.

If your defined contribution plan is not subject to ERISA, you are not subject to these regulations. We are aware that some non-ERISA plans follow ERISA rules as a “best-practice.”

DOL Regulatory Information:
The following are links to information from the DOL regarding the regulations:

• Sponsor Disclosure Fact Sheet
• Participant Disclosure Fact Sheet
• Direct Final Rule Fact Sheet