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Text of DOL Submission for OMB Approval: Proposed Focus Groups for Evaluating the Effectiveness of ERISA Section 408(b)(2) Disclosure Requirements
Employee Benefits Security Administration [EBSA], U.S. Department of Labor [DOL] Link to more items from this source
[Official Guidance]
Dec. 8, 2014
"[This information collection request (ICR) seeks] authority for focus groups to be used for evaluating the effectiveness of [ERISA] section 408(b)(2) disclosure requirements.... This ICR is designed to explore current practices and effects of a final regulation published in the Federal Register on February 3, 2012, to implement section 408(b)(2) and to gather information about the need for a guide, summary, or similar tool to help a responsible plan fiduciary navigate through and understand the disclosures. The EBSA intends to use information collected from the focus groups: [1] To assess responsible plan fiduciaries' experience in receiving the disclosures the 408(b)(2) regulations require; [2] to assess the effectiveness of the disclosures in helping plan fiduciaries make decisions; [3] to determine how well plan fiduciaries understand the disclosures, especially in the small plan marketplace (100 participants or less); and [4] to evaluate whether, and how, a guide, summary, or similar tool would help a fiduciary understand the disclosures. The focus group results will be used to inform and support a notice of final rulemaking for the guide requirement." [Updated Supporting Statements, Supplementary Documents, and previously filed Comment Letters are also available.]

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