New Participant Disclosure Requirements

A new set of participant disclosure requirements will take effect for most 401(k) and 403(b) plans later this year (Participant Disclosure Regulation). The regulation creates a new ERISA fiduciary duty for administrators of all retirement plans that provide for participant investment.  Plan administrators of covered plans will need to give participants an expanded array of information that meets specific content, formatting and frequency requirements. The requirements apply to plan years beginning on or after November 1, 2011. Read the rest of this entry »