Experts in Personalized Retirement Plan Design & Administration

Fee Disclosure

Annual plan fee disclosure to participants is required in defined contribution plans that allow participants to make their own investment decisions.  This applies to 401(k) plans, profit sharing plans and other plans under which individual accounts are maintained for participants.

For newly eligible employees the notice should be provided with enrollment materials prior to the date they become eligible.

On an ongoing basis, the annual notice is due 12 months after the general distribution of the last disclosure notice to all participants.  For example, if the last disclosure notice was distributed on August 31, 2018, the next disclosure deadline would be August 31, 2019.

The financial service company that holds the plan assets and Benefit Plans Plus can, in most instances, help  coordinate with you on what is required to satisfy the disclosure notice rules.

Plan Sponsor Background

DOL Fee Disclosure FAQ (Field Assistance Bulletin No. 2012-02R)

BPP Plan Sponsor Fee Disclosure Education Materials

BPP Plan Participant Fee Disclosure Education Materials

Final Fee Disclosure Rules

PSCA Discussion of Participant Fee Disclosure FAQs

Participant Education

BPP Plan Participant Fee Disclosure Education Materials

DOL Disclosures to Help Employees Understand Their Retirement Plan Fees

DOL A Look at 401k Plan Fees

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