408(b)(2) regs

[Guest JM123]

Does anyone have any thoughts about whether a plan sponsor that performs services to the plan and is properly reimbursed for it's direct costs (i.e., the salary of an employee whose sole responsibility is to perform administrative services to the company's plans) is considered a covered service provider requiring a written disclosure?

My first reaction is that it should not, because the administrator is the sponsor, and already knows the services to be performed and related charges. There is also no unknown conflict of interest that might be revealed by the disclosure. On the other hand, it's not the administrator but rather a fiduciary committee approves the actual charges to the plans. I'm not sure that it matters that the committee is comprised exclusively of plan sponsor executives and employees.

Has anyone considered this question or have any thoughts?