Educational Solutions for Employee Benefits Professionals
Plan Fees: Navigating the Maze
Plan and Participant Disclosure, Fee Payment, and Schedule C Reporting
The DOL has spent years working on guidance related to plan fees. What can the plan pay? How can fiduciaries understand what the plan is paying? What must fiduciaries tell participants? What must fiduciaries tell the DOL? What must those charging the fees disclose? Finally, it is all coming together, with several sets of new regulations and new requirements.
Unfortunately, the various pieces of guidance use different thresholds and different terminology (or, even worse, the same terms to mean different things). The result, instead of understanding, is a maze of confusion and frustration.
End the confusion. Attend our new all-day program, Plan Fees: Navigating the Maze, and you'll find out what the rules are and what they mean for you. You'll know what to do and what to expect. Let us help you get through the maze of regulations to achieve compliance with new disclosure requirements.
Topics include:
- Service provider fee disclosure rules
- Participant fee and investment disclosures
- Interaction of Schedule C and new regs
- Who's a fiduciary?
- Fee terminology
Objectives
Upon completion of the course, attendees should be able to:
- Determine which service providers must disclose expenses to the plan's fiduciary
- Determine which plan expenses the plan may pay and which the employer-sponsor must pay
- Collect relevant service provider information and prepare Schedule C of Form 5500
- Prepare an initial covered service provider disclosure statement
- Determine the sufficiency of a service provider's disclosures to a responsible plan fiduciary
- Identify the required annual and quarterly disclosures for participants in a participant-directed individual account plan
- Prepare a disclosure statement for participants in a participant-directed individual account plan
- Distinguish between direct and indirect compensation