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Benefit Plan Sponsors › Disclosure Requirements › Plan Participants

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Providing Info to Participants

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

ERISA requires disclosure of certain plan documents to participants including a summary plan description, statements, and notices. The problem is what do you do with people who aren’t participants such as potential employees?...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

40% of plan participants don’t know what their fees are, most of the other 60% also have no clue

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

According to the Government Accountability Office (GAO), about 40% of 401(k) plan participants don’t fully understand the fees they are paying. Even with fee disclosure rules implemented in 2012, 41% of participants...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

DOL should make e-disclosures the default

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

It’s 2019 and one area that the Department of Labor (DOL) could help both the retirement plan industry and plan sponsors out is making electronic disclosures and notices the default option and go with the times....more

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