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SPARK seeks to ease fee disclosure rule

Giving plan sponsors an additional 45 days, it says, allows them and service providers the additional time and flexibility they need to furnish required materials without accelerating the deadline for subsequent years.

By Paula Aven Gladych | Updated on January 27, 2014

The SPARK Institute has asked the U.S. Department of Labor for additional wiggle room when it comes to participant fee disclosure notifications.

Companies that sponsor retirement plans for their employees are required to notify participants about the fees they are paying in their participant-directed plans on an annual basis. Some in the industry have questioned the timing on those disclosures, which was the end of August, saying that timeline didn’t give employers enough time to get all of their regulatory ducks in a row.

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