Bundled Recordkeeping Fees Subject To Disclosure Under 408(b)(2) Rule

BALTIMORE—The Department of Labor’s interim final rule under Section 408(b)(2) of the Employee Retirement Income Security Act, scheduled to take effect July 15, will require significant changes in the fee disclosure practices of the retirement plan services industry, DOL official Louis J. Campagna said Feb. 3.

Campagna, chief of the Fiduciary Interpretations Division at DOL’s Employee Benefits Security Administration, spoke at a joint meeting of area Internal Revenue Service Tax Exempt and Government Entities Division councils and pension liaison groups. He added that the department has received many comments on the interim final rule and indicated in his remarks ...