Fee disclosure regs expand obligationsThe U.S. Department of Labor recently issued interim final regulations requiring that service providers to pension, 401(k) and other retirement plans disclose information to assist plan fiduciaries in assessing the reasonableness of the service providers’ compensation and potential conflicts of interest. The fee disclosure regulations will have an impact on plan fiduciaries and plan sponsors. The regulations will become effective on July 16, 2011. Source: Benefit News IRS: Those small-business pension plans were too good to be trueIn a warning to small business owners, the Internal Revenue Service has sued a Los Angeles area man, saying he set up bogus pension plans allowing such clients to wrongfully duck at least $30 million in taxes. Source: Forbes More News
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