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 401k Resources

Fred Reish, one of the nation's leading ERISA attorneys at Drinker, Biddle & Reath LLP, wrote this Client Bulletin in July 2012 when the Department of Labor's new Fee Disclosure rules became effective.  Plan sponsors and plan fiduciaries who are unfamiliar with the term "Fee Disclosure," should get up to speed immediately.  For the sake of its employees and its plan fiduciaries.
 
Click here for "Fact Sheet Regarding Fee Disclosures," a Department of Labor publication that begins:
"The Employee Retirement Income Security Act (ERISA) requires plan fiduciaries, when selecting and monitoring service providers and plan investments, to act prudently and solely in the interest of plan participants and beneficiaries.  Responsible plan fiduciaries must ensure that arrangements with their service providers are "reasonable" and that only "reasonable" compensation is paid for services.  Fundamental to the ability of fiduciaries to discharge these obligations is obtaining information sufficient to enable them to make informed decisions about an employee benefit plan's services, the cost of such services, and the service providers."
 
Click here for "Meeting Your Fiduciary Responsibilities," a Department of Labor publication for plan sponsors that addresses (among other topics):
-Who is a Fiduciary?
-What is the Significance of Being a Fiduciary?
-Limiting Liability
-Hiring a Service Provider
-Fees
-Monitoring a Service Provider