New IRS regulations 408(b)(2) will be going into affect soon creating a new level of transparency for defined contribution plans. Investment advisor and fiduciary consultant Eric Roberts presents a 30-minute review of how IRS regulation 408(b)(2) will give plan sponsors and fiduciary committee members a better understanding of the regulatory changes and how it will shift the way their 401(k) provider discloses fees and reports fund and benefit performance.
Speaker: Eric Roberts, fiduciary consultant for Nyhart
Presented: Thursday, July 28, 2011
Important Update On February 2, 2012: The U.S. Department of Labor announced in the February 2, 2012 edition of the Federal Register the final regulations for the service provider fee disclosure under ERISA Section 408(b)(2). It had previously published interim final regulations.
One important change is that the final regulations postpone the effective date to July 1, 2012. This delayed effective date also postpones participant-level fee disclosures for a calendar year plan to August 30, 2012 for the initial annual disclosure and November 14, 2012 for the first quarterly disclosure.
Information in the presentation below shows dates that were in the interim-final regulation publication.
If you or your company would like to schedule a private presentation for your plan committee, please contact us at education@nyhart.com.
Nyhart, one of the nation’s largest independent actuarial and employee benefits consulting firms, is pleased to present educational programs for CFOs and defined benefit plan sponsors in government and private businesses who currently offer pension benefits.