FIS Relius

This program was recorded during a live presentation June 18, 19, and 20, 2012.

Unfortunately, the Department of Labor is interpreting and modifying their fee disclosure rules piecemeal. In February, 5 months before the July 1 deadline, we got the final service provider regulations. In May, we received a Field Assistance Bulletin that makes significant changes to the participant fee disclosure rules. At this date (June 18), we are still waiting for anticipated service provider guidance.

This three-part Web seminar ties together everything we know in the predawn of the new disclosure rules. The spekaer provides a thorough discussion of the service provider and participant disclosure rules, as modified by subsequent DOL rulings.

Included are such crucial topics as:

• What really is a designated investment alternative (DIA)?
• How do plans with no DIAs comply?
• Are model portfolios DIAs?
• How do these rules affect 403(b) plans?
• Will there be further extensions?
• Who is a covered service provider (CSP)?
• What investment disclosure duties do CSPs have?
• How often must disclosures be updated?
• To what extent is electronic disclosure available?
• Can we base quarterly expense disclosures on plan year quarters?
• What guidance do we anticipate?
• What do plan administrators need to understand about fiduciary responsibility?

Prerequisites: There are no prerequisites or other advanced preparation for this program. However, the speaker will assume that attendees have an understanding of operation and framework of participant-directed 401(k) plans.

Level: Intermediate

Instructional Delivery Method
Recorded playback of a live presentation. 

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

Objectives: Upon completion of the seminar, attendees should be able to:

1. Determine which service providers must disclose expenses to the plan’s fiduciary.
2. Determine which expenses and investment options the plan must disclose to participants.
3. Prepare an initial covered service provider disclosure statement.
4. Identify the required annual and quarterly disclosures for participants in a participant-directed individual account plan.
5. Prepare a disclosure statement for participants in a participant-directed individual account plan.
6. Distinguish between direct and indirect compensation.
7. Define terms such as covered service provider, designated investment alternative, platform recordkeeper, etc.
8. Correct an improper disclosure of plan expenses to the plan’s fiduciary.
9. Determine how the service provider disclosure rules apply to a participant.
10. Advise a plan sponsor regarding the effect of plan design on fiduciary responsibility.
11. List the disclosure methods available to plan administrators.

Hardware System Requirements:

• Windows 95, 98, NT 4.0, 2000, XP, Windows 7
• Internet Explorer 4.01 or later, Netscape 4.08 or later, and set Internet browser to allow pop-up windows.
• High-speed Internet connection.
• Pentium 166+ MHz, 128MB RAM or more.
• 1023 x 768 or higher display resolution.
• Soundcard and Speakers.

Software Requirements:

• Silverlight Version 4 is required. Silverlight Version 5 or higher is preferred.
• Silverlight 4 System Requirements Information: http://www.microsoft.com/getsilverlight/locale/en-us/html/installation-win-SL4.html
• Silverlight Downloading:
  • If you do not have Silverlight on your desktop, you should see an automatic pop-up window that will allow you to install it.
  • If you don't see the pop-up window, or if you wish to install this application before you access the recording, you may download it from this locations: http://www.microsoft.com/getsilverlight/get-started/install/default.aspx   
• If you have questions or need assistance with accessing/downloading Silverlight, please contact your IT or MIS department.

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 emailed to: relius.education@sungard.com.