ERISA Tips: Timing of Fee Disclosures

For 403(b) plans covered by ERISA, the Department of Labor (DOL) has outlined the following timelines for fee disclosures:

• any changes to the initial disclosure no later than 60 days of when the covered service provider was informed of the change, and
• investment changes at least annually.

In addition, the DOL says, ongoing reporting should be met before the fiduciary has to meet its participant level disclosure requirements annually.
 
Editor’s Note: ERISA Tips is a feature provided with you in mind — to make the newsletter more useful to you! If you have any content for ERISA Tips or the NTSA Advisor that you would like to contribute or suggest, please contact John Iekel, editor of the NTSA Advisor, at [email protected]