plan expenses

[Guest Betsy Oakey]

Does anyone have have something I can "site" for an angry terminated particiant who is being charged a yearly maintenance fee? I believe this is okay but can't find anything in the regs to sustantiate the fee.

[Bill Presson]

Does anyone have have something I can "site" for an angry terminated particiant who is being charged a yearly maintenance fee? I believe this is okay but can't find anything in the regs to sustantiate the fee.

I've found this to be a good resource:

http://www.groom.com/_library/downloads/ER...Expensesv.4.pdf

[david rigby]

You might also try the BenefitsLink search feature:

http://benefitslink.com/search/

[Everett Moreland]

Revenue Ruling 2004-10 might be on point

[Guest Pensions in Paradise]

Why waste your time telling the terminated about about the regs/code? Just give him a copy of the Plan & SPD which must contain the provision which allow fees to be charged to participants. If he/she isn't happy with that, tell them to hire an attorney. And obviously point out to them that they can avoid the fee altogether if they take their money out of the plan!

[four01kman]

Temper, temper PinP

[Guest Pensions in Paradise]

Sorry, this hit a sore spot with me. We just went through an identical situation where we spent an unbelievable amount of time trying to placate a terminated participant.

My humble opinion on this matter is that the SPD should already disclose the fact that the participant can be charged certain fees. If the participant is not satisfied with that, then I humbly believe the participant should retain someone to explain the legal rules to them.

[Guest mjb]

If not already located see DOL field assistance bulletin 2003-3 for authority to charge fees to terminated participants. It should be on the DOL webside.

[SteveH]

Just give them this and tell them they should be happy they aren't paying all of these too.

06_dol_fee_tool.pdf