DoL Issues Further Guidance on Compliance with ERISA 408(b)(2) Compliance

May 09, 2012

On Monday May 7th, the U.S. Department of Labor’s Employee Benefits Security Administration (“EBSA”) issued Field Assistance Bulletin No. 2012-02 to provide further guidance on compliance with the new 408(b)(2) regulations, which impose disclosure requirements on service providers, such as investment advisers, to retirement plans covered under the Employee Retirement Income and Security Act of 1974 (“ERISA”).

This Department of Labor bulletin, which addresses topics in a questions and answer format, further clarifies who is considered a covered service provider under ERISA 408(b)(2) regulations and how covered service providers should disclose their fee information.  The bulletin also provides guidance on the ERISA 404(a) regulations, which require plan administrators to make certain disclosures to plan participants.

On Thursday, May 10, 2012, at 12:00 CDT, our affiliated law firm, Bryan Hill Attorney at Law, will be conducting a webinar, New 408(b)(2) Disclosure Requirements Affect Investment Advisers to ERISA Plan Accounts.  During this webinar, we will review the new 408(b)(2) regulations and provide an in-depth discussion on who the regulations apply to and what the disclosures requirements for an investment adviser are under the regulation.  To register for this webinar, click here.

Posted by Bryan Hill
Labels: 408(b)(2), ERISA, Webinar