Michael F. Tomasek, Partner and Head of the Firm's Employee Benefits and Executive Compensation Practice, authored a White Paper titled, "Retirement Plan Fiduciaries Need to Comply with Fee Disclosure Regulations Soon."
In recent years, plan participants and the government have examined issues surrounding the reasonableness of retirement plan service provider fees. In the aftermath of several lawsuits filed by plan participants, the United States Department of Labor promulgated two sets of fee disclosure regulations that address some of the issues raised by the plaintiffs in those suits. The regulations are scheduled to go into effect soon and, as a result, plan fiduciaries need to ramp up their compliance efforts to ensure that their plans meet the requirements on a timely basis.
