Fees and Disclosure

Updates

EEOC Revisions Place Undue Burden on Employers

The ERISA Industry Committee (ERIC) is disappointed in the U.S. Equal Employment Opportunity Commission’s (EEOC) final rule that provides revisions to the EEO-1 Report… More

protected content Results of Survey on Employee Expenses Charged to Plan Trust

The following survey asked ERIC members to describe what employee expenses, if any, are charged to the plan trust… More

protected content DOL Releases Rule Allowing Flexibility in Annual Participant Fee Disclosure

Today, the Department of Labor’s Employee Benefits Security Administration (EBSA) released a direct final rule that gives plans sponsors additional time to provide the required participant-level fee disclosure required under ERISA section 404(a)-5. … More

ERIC and Other Groups Urge DOL to Put on Hold Proposed Disclosure Guide until Focus Group Testing Complete

ERIC, in addition to 10 other business trade associations, sent a letter to the Department of Labor recommending that the Department put the proposed ERISA section 408(b)(2) “guide” on hold until forthcoming focus group testing is completed … More

protected content DOL Seeks to Establish Focus Groups to Evaluate Service Provider Disclosure Requirements

The Department of Labor (DOL) published in the Federal Register a notice seeking approval to establish focus groups for evaluating the effectiveness of the service provider disclosure requirements under section 408(b)(2) of ERISA. … More

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Amicus Briefs

ERIC Urges Seventh Circuit to Uphold District Court Dismissal of 401(k) Excessive Fee Case

ERIC on May 9 filed with the U.S. Court of Appeals for the Seventh Circuit an amicus brief urging the court to uphold the dismissal of a… More

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Court Rulings

protected content Supreme Court Declines Review of Fiduciary Breach Claims in Tussey v. ABB

The U.S. Supreme Court recently announced that it will not hear the case of Tussey v. ABB, despite encouragement from the Solicitor of Labor to hear the case. The Tussey case involved whether deference should be limited to fiduciaries’ decisions that relate to benefit claims. … More

protected content Additional Developments in “Excessive” Fee Cases

The subject of 401(k) fees continues to be litigated and is attracting the interest of both the press and possibly the Supreme Court. In response to the Eighth Circuit Court of Appeals’ recent decision in Tussey v. ABB, … More

More Court Rulings

Judicial Documents

protected content Supreme Court Declines Review of Fiduciary Breach Claims in Tussey v. ABB

The U.S. Supreme Court recently announced that it will not hear the case of Tussey v. ABB, despite encouragement from the Solicitor of Labor to hear the case. The Tussey case involved whether deference should be limited to fiduciaries’ decisions that relate to benefit claims. … More

protected content Additional Developments in “Excessive” Fee Cases

The subject of 401(k) fees continues to be litigated and is attracting the interest of both the press and possibly the Supreme Court. In response to the Eighth Circuit Court of Appeals’ recent decision in Tussey v. ABB, … More

More Judicial Documents

Letters to Agencies

ERIC and Other Groups Urge DOL to Put on Hold Proposed Disclosure Guide until Focus Group Testing Complete

ERIC, in addition to 10 other business trade associations, sent a letter to the Department of Labor recommending that the Department put the proposed ERISA section 408(b)(2) “guide” on hold until forthcoming focus group testing is completed … More

ERIC Joins Letter to Department of Labor on Fee Disclosures to Participants

ERIC has signed a joint business trade association letter to the Department of Labor regarding its required annual fee disclosures regulation. In FAB 2013-02, the Department stated that it was considering providing a 30-day or 45-day window in connection with the due date for submitting annual comparative charts under the regulation… More

ERIC Urges DOL to Exclude Large Plans from Proposed Amendment to Require Fee Disclosure Guides

The ERISA Industry Committee (ERIC) today urged the Department of Labor (DOL) to exclude large plans from its proposal to require service providers to distribute a “guide” or similar tool to fiduciaries in order to satisfy the disclosure regulations under section 408(b)(2) of the Employee Retirement Income Security Act. … More

ERIC Urges DOL to Exclude Large Plans from Fee Disclosure Guides

The ERISA Industry Committee (ERIC) today urged the Department of Labor (DOL) to exclude large plans from its proposal to require service providers to distribute a guide or similar tool to fiduciaries in order to satisfy the disclosure regulations under section 408(b)(2) of the Employee Retirement Income Security Act. … More

ERIC Urges DOL to Clarify 401(k) Fee Disclosure Guidance

The ERISA Industry Committee (ERIC), along with the Plan Sponsor Council of America (PSCA), and the U.S. Chamber of Commerce (the Chamber) today urged the Department of Labor (DOL) to clarify its previous guidance providing relief with respect to the fee disclosure requirements for participant-directed individual account plans (such as 401(k) plans).… More

More Letters to Agencies

Press Releases

EEOC Revisions Place Undue Burden on Employers

The ERISA Industry Committee (ERIC) is disappointed in the U.S. Equal Employment Opportunity Commission’s (EEOC) final rule that provides revisions to the EEO-1 Report… More

ERIC Urges DOL to Exclude Large Plans from Proposed Amendment to Require Fee Disclosure Guides

The ERISA Industry Committee (ERIC) today urged the Department of Labor (DOL) to exclude large plans from its proposal to require service providers to distribute a “guide” or similar tool to fiduciaries in order to satisfy the disclosure regulations under section 408(b)(2) of the Employee Retirement Income Security Act. … More

ERIC Urges DOL to Exclude Large Plans from Fee Disclosure Guides

The ERISA Industry Committee (ERIC) today urged the Department of Labor (DOL) to exclude large plans from its proposal to require service providers to distribute a guide or similar tool to fiduciaries in order to satisfy the disclosure regulations under section 408(b)(2) of the Employee Retirement Income Security Act. … More

ERIC Urges DOL to Clarify 401(k) Fee Disclosure Guidance

The ERISA Industry Committee (ERIC), along with the Plan Sponsor Council of America (PSCA), and the U.S. Chamber of Commerce (the Chamber) today urged the Department of Labor (DOL) to clarify its previous guidance providing relief with respect to the fee disclosure requirements for participant-directed individual account plans (such as 401(k) plans).… More

ERIC Applauds DOL for Providing Relief from Fee Disclosure Deadline for Participant-Directed Individual Plans

The ERISA Industry Committee (ERIC) applauds the Department of Labor (DOL) for providing temporary enforcement relief with respect to most of the fee disclosure requirements for participant-directed individual account plans under the Employee Retirement Income Security Act.… More

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