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DOL Issues Rule Requiring Fiduciaries
To Disclose Plan Fees, Costs to Participants

Oct. 14, 2010, 4:00 AM

Retirement plan administrators will be required to disclose to participants the plan operating expenses and all investment-related operating expenses and shareholder fees for each investment option offered in participant-directed individual account plans, under a Labor Department final rule issued Oct. 14.

The regulation, scheduled for publication in the Oct. 20 Federal Register, takes effect 60 days after publication, but is not applicable until the first plan year beginning on or after Nov. 1, 2011. For calendar-year plans, the rule will apply Jan. 1, 2012.

“The law, prior to the new rule, did not guarantee that all workers received sufficient ...

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