fees paid by employer

[Dawn Hafner]

A plan's fiduciaries have decided to move the plan's assets to another provider. Some assets are invested in GICs, and a penalty will apply to some participants to get out of these contracts. The total dollar amount is small, but the employer wants to pay these fees for the participants as it is not their fault the plan is moving to another provider. Would these fees be considered fees that can be reimbursed? The plan document allows the employer to pay fees that relate to the ordinary and necessary administration of the plan. Is this an administrative fee due to moving or a charge against the earnings of the GIC, and therefore similar to an asset management fee of a mutual fund. Any DOL opintions letters in this area? Thanks.