The Frugal Fiduciary Blog

Good News, 401k Fiduciaries! DOL Fee Disclosure Rules Make ERISA 404(c) Compliance Simple

Posted by Eric Droblyen on Dec 2, 2015

During the 4th quarter of each year, most 401k sponsors are distributing notices to participants that disclose certain plan information about the upcoming year – the safe harbor 401k notice is an example. Most sponsors try to coordinate the distribution of these notices with their plan’s annual fee disclosure notice, which is required under ERISA 404a-5 (“404a-5 notice”).

The 404a-5 notice discloses certain plan expenses (administration, individual and investment-related) to 401k participants. First required in 2012, its purpose is to help 401k participants make informed plan choices.

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Topics: ERISA, 404(c)

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