Prominent groups ask feds to extend 401(k) fee disclosure deadline
Two major organizations just sent a request to the DOL and, if they get their way, your company could get some much needed extra time to prepare for the upcoming 401(k) fee disclosure regs.
In a letter to the DOL, the American Society of Pension Professionals and Actuaries (ASPPA) and the Council of Independent 401(k) Recordkeepers (CIKR) asked the agency to push back the effective date for the new regs.
The organizations said they support the DOL’s efforts to improve fee-transparency.
However, because the agency hasn’t released its final rule on fee disclosure yet, complying with the regs in “three short months” doesn’t give organizations enough time to prepare, the groups said.
To read the full letter by the ASPPA and the CIKR, click.
- Share on
Free Training & Resources
Further Reading
Open enrollment may feel far away. It isn’t. Summer is when benefits planning for 2027 starts taking shape. Health benefits are one of...
With benefits costs climbing and new laws like SECURE 2.0 adding complexity, viewing employee benefits as a simple fixed cost is an outdate...
The IRS has explained how to handle taxes if a retirement plan participant doesn’t cash a distribution check and another check is issued....
A new proposed rule from the Department of Labor’s Employee Benefits Security Administration outlines how 401(k) fiduciaries must assess ...
While the IRS can assess penalties under the Affordable Care Act (ACA), it can’t issue the certifications required beforehand, a court ha...
Employees may not understand lifestyle spending accounts (LSAs) as well as you think. That can lead to questions or just confusion. Thi...
