The Department of Labor’s (“DOL”) new fee disclosure regulations applicable to participant-directed defined contribution plans are effective for plan years beginning after October 31, 2011. For calendar year plans, the first annual disclosures are due by May 31, 2012, and the first quarterly statement of expenses incurred is due by August 14, 2012. Many plan sponsors have urged the DOL to issue new guidance pertaining to the electronic disclosure of this information, as the DOL’s existing electronic disclosure rules are often criticized as cumbersome and outdated.
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