Articles for: 408(b)(2)
Why must a service provider disclose fees to plan sponsors in advance of providing the services under the ERISA §408(b)(2) regulations?
ERISA frowns on payments between a plan and someone who has an interest in the plan’s operation (called an interested party). A service provider is an interested party under ERISA, [...]
Key words: 408(b)(2),ERISA,fee disclosure
What happens if disclosure isn’t made as required under the ERISA §408(b)(2) regulations?
The covered service provider will be able to correct an error or omission as long as it was acting in good faith with reasonable diligence and it discloses the correct [...]
Key words: 408(b)(2),Disclosure,ERISA
Deadline Quickly Approaching for Fee Disclosure
The July 1, 2012 deadline for disclosures under the final regulations for 408(b)(2) is rapidly approaching. Generally, the Regulations will only apply if a plan is a defined contribution plan in [...]
Key words: 401k,408(b)(2),Defined Contribution,fee disclosure,participant disclosure,participant fee disclosure
What must be disclosed under the ERISA §408(b)(2) regulations?
Covered service providers must describe the services provided and disclose the amount of (1) direct compensation, (2) indirect compensation, (3) compensation paid among related parties, and (4) compensation for termination of the contract or [...]
Key words: 408(b)(2),Disclosure,ERISA,fee disclosure
When must disclosure be made under ERISA §408(b)(2) regulations?
For new agreements, the disclosures must be made before the plan fiduciary agrees to hire the service provider and it must to given enough in advance to permit the fiduciary [...]
Key words: 408(b)(2),Disclosure,ERISA