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The New Service Provider Fee Regs: The Wait Is Over
Presentor: Derrin Watson Recorded Date: 8/10/2010 Duration: 100 Min.

Description

This program was recorded during a live presentation on August 10, 2010.

It’s been a nail-biting 2½ years since the Department of Labor issued its proposed regulations on service provider fee disclosure. The proposal mandated new disclosures from service providers to plan fiduciaries, relating to services, charges, and conflicts of interest. The regulations were to go into effect within 90 days of the regulations becoming final, and provided that failure to comply constituted a prohibited transaction.

Now, they’re final – for the time being (that’s what “interim final regulations” means). The good news is that they won’t go into effect until July 16, 2011. The bad news is that on that date, every existing arrangement between a service provider and a retirement plan must be in compliance.

In this Web seminar, we discuss the new regulations in detail. We tell you who must disclose what to whom and when. We also talk about what happens if a service provider fails to disclose, both from the standpoint of the provider and the plan fiduciary, and how to correct inadvertent mistakes.

Speaker
S. Derrin Watson, J.D., APM
Recipient of ASPPA's 2006 Educator of the Year Award

Prerequisites: There are no prerequisites or other advanced preparation for this program. However, the speaker will assume that attendees have a general knowledge of the modern operation of retirement plans.

Level: Overview.

Instructional Delivery Method
Group – Internet-Based

Objectives: After completing this program, attendees should be able to:

  • Determine if an arrangement is subject to the new regulations
  • Determine what information must be disclosed
  • Determine the party to whom disclosure must be made
  • Explain the deadlines for disclosure for existing and new arrangements
  • Determine how to apply the regulation following a change in an arrangement
  • Explain the consequences of noncompliance
  • Explain the process for correcting erroneous disclosures

System Requirements:

  • Windows 95, 98, NT 4.0 , 2000, XP
  • Internet Explorer 4.01 or later, Netscape 4.08 or later
  • 56K modem connection or better (128K recommended)
  • Pentium 166+ MHz, 128MB RAM or more
  • 800x600 or higher display resolution
  • Soundcard, Speakers

Recorded Event Time Limitation:
This recorded event will be available for 20 days from your date of registration.

Program related requests, questions, or concerns may be e-mailed to: relius.education@sungard.com.

 


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