Broker Check

401(k) Plans

An Open Letter to Business Owners

Congratulations on offering a retirement plan to your employees.

Just when you think you have a handle on your plan ... the rules are changing.

What do you know about the Department of Labor (DOL) major disclosure regulation change?

More importantly, what does the rule change mean to your employees and how does it impact you?

The current effective date for these regulations is July 1, 2012 (assuming no further changes by the DOL). This effective date has been extended from April 1, 2012 to allow more time for compliance.

In summary the key changes are as follows:

  • Retirement plan service providers must fully describe their services and disclose their compensation to you the plan sponsor.
  • Disclose to participants the plan-level fees they pay.

Are you prepared or will you be surprised by the fee disclosures?

Either way, are you prepared to answer questions from your employees?

We are here for you. Click HERE to contact us.