Service and fee disclosure regulations – ERISA Section 408(b)(2) applies to retirement plan service providers effective April 1, 2012.
New 408(b)(2) Service Provider Disclosures:
- A description of the services provided
- Whether services provided are in fiduciary capacity
- Description and amount ($ value or formula) of all direct and indirect compensation received from plan
- Description of compensation among related parties
- Description of termination fees
- Transaction fees, operating expenses and other fees of designated investment alternatives
- Any changes must be disclosed within 60 days
For more information about your pension plan disclosure requirements call LSL CPAs at 714.569.1000.
By Maria Arriola, CPA
For over 30 years, Maria has served clients in a variety of areas including financial statement audits, reviews and compilations as well as business and individual taxation. Maria excels working with clients in the real estate, and healthcare industries, along with employee benefit plans.
You can reach Maria at 714-569-1000