DOL: Fee disclosure rule’s effective date pushed to April
The Labor Department delayed once again the effective date for fee disclosure regulations for retirement plans by three…
The Labor Department delayed once again the effective date for fee disclosure regulations for retirement plans by three months, much to the relief of record keepers and broker-dealers. The regulations were supposed to go into effect July 16, but the first extension gave the industry until Jan. 1, 2012. Now they are slated to go into effect in April 2012. See the regulations here. The DOL wants retirement providers to write out their fiduciary status to the plan, detail the services they provide and disclose their compensation. The final version of the rules has not yet been released. See full story here.
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