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Responsible Plan Fiduciaries: Formalize Response to Service Provider Fee Disclosures
Perkins Coie LLP Link to more items from this source
[Guidance Overview]
Aug. 6, 2012
"Plan fiduciaries with responsibility to enter into, extend or renew a contract or arrangement with a covered service provider now must (1) review such disclosures to determine whether they satisfy the content requirements under the 408(b)(2) regulations, (2) request missing or inadequate disclosure information from the covered service providers, (3) determine whether the fees are reasonable and the services necessary for the establishment or operation of the plan, (4) report any disclosure failures to the DOL, and (5) terminate the service contracts in some cases."

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