Articles for: Disclosure
What information does a plan fiduciary have the duty to provide?
There are a number of things that the fiduciary is required to disclose to participants and beneficiaries. The disclosure of such items is governed by Title I of ERISA. The [...]
Key words: Disclosure,fiduciary,fiduciary duty
What happens if disclosure isn’t made as required under ERISA §404(a)(5)?
The failure to disclose would be considered a breach of fiduciary duty. The DOL does not have any penalties that apply for failure to comply. However, the breach could be [...]
Key words: 404a5,404c,Disclosure,DOL,ERISA,participant fee disclosure
How must disclosure be made under ERISA §404(a)(5)?
Disclosure must be made to plan participants and beneficiaries who can direct their investments. The designated investment alternative information must be disclosed using a comparative format. The DOL has issued [...]
Key words: 404a5 regs,designated investment alternative,Disclosure,ERISA,participant 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
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