Who must make participant fee disclosures under ERISA §404(a)(5)?
Disclosure is the responsibility of the plan administrator as defined in the plan document. Absent a designation of someone as the plan administrator, the employer shall be the plan administrator.
However, if a plan administrator reasonably and in good faith relies on information from a service provider or issuer of a designated investment alternative, the plan administrator is not liable for the completeness and accuracy of the information.
This article was last updated on August 22, 2012