Update on Service Provider Disclosure Under 408(b)(2)
The status of the required disclosure of fees by service providers to retirement plans under ERISA Section 408(b)(2) is unclear at this time. Regulations had been proposed and were expected to be released in final form by last fall. With the change in political administrations, it is currently unclear as to whether the regulations will be released in final form soon, revised and re-released in proposed form again, or overridden by legislation that might require greater disclosure.
Fred Reish and Bruce Ashton of Reish, Luftman, Reicher & Cohen have written an article that clarifies the situation surrounding the status of 408(b)(2). Please click here to access the article.