An expanded set of assessment guidelines for plan sponsors and service providers has been released by the Center for Fiduciary Excellence, in response to the DOL's impending fee disclosure regulations.
The new fiduciary guidelines will pertain to both 404a-5, which provides disclosure to plan participants, as well as 408b-2(c), which requires service providers to disclose costs of services to plan sponsors and any direct or indirect compensation.
"As the ERISA regulatory landscape evolves, CEFEX is working to ensure that both plan service providers and plan sponsors fully understand this regulation and are prepared to comply," said Carlos Panksep, CEFEX's managing director.
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