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What Do I Do With All These Fee Disclosures From Service Providers?
von Briesen & Roper, s.c. Link to more items from this source
[Guidance Overview]
July 10, 2012

"By now, a plan fiduciary should have received fee disclosures from all of the plan's covered service providers. Although the obligation to provide the fee disclosures falls on the covered service provider, the plan fiduciary is ultimately responsible for confirming it has received a fee disclosure from each covered service provider and that each disclosure complies with the final regulations under ERISA Section 408(b)(2). Accordingly, it is important that a plan fiduciary take the following steps in response to the DOL regulations: Confirm that it has identified its covered plans; Confirm that it has identified all covered service providers with respect to each plan; Confirm that each covered service provider has made a fee disclosure pursuant to the DOL regulations; and Thoroughly review all disclosures it has received from covered service providers to confirm that they satisfy the requirements of the DOL regulations."

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