DOL Revises Fee Disclosure Guidance Applicable to Brokerage Windows
By Sean Brown
.jpg)
On July 30, 2012, the U.S. Department of Labor (DOL) issued Field Assistance Bulletin (FAB) 2012-02R, which contains several revised FAQs providing guidance on issues related to final regulations for participant-level retirement plan fee disclosure, superseding an earlier set of FAQs released in FAB 2012-02 on May 7, 2012.
The original FAB provided that investment alternatives available through a brokerage window, self-directed brokerage account, or similar arrangement could be designated investment alternatives for purposes of the participant-level fee disclosure rules if a significant number of participants invested in the alternative. This would have required plans to monitor the investment selections of each individual participating in the brokerage window to determine whether the selections met the significant number threshold. Continue reading this entry at Littler's Employee Benefits Counsel.
Photo credit: Kirby Hamilton
