Practical Guide to Plan Fee Disclosures: June 2012 Update
Presentor: Derrin Watson Recorded Date: 6/18/2012 Duration: 300 Min.
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:
This three-day Web seminar provides a thorough discussion and an opportunity for attendees to ask their questions by emailing them to email@example.com. In addition, attendees are provided with the latest version of our sample disclosure forms, revised to reflect the latest DOL guidance.
- 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.
Instructional Delivery Method
Recorded playback of a live presentation.
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:
- Determine which service providers must disclose expenses to the plan’s fiduciary.
- Determine which expenses and investment options the plan must disclose to participants.
- Prepare an initial covered service provider disclosure statement.
- 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.
- Define terms such as covered service provider, designated investment alternative, platform recordkeeper, etc.
- Correct an improper disclosure of plan expenses to the plan’s fiduciary.
- Determine how the service provider disclosure rules apply to a participant.
- Advise a plan sponsor regarding the effect of plan design on fiduciary responsibility.
- 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.
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: firstname.lastname@example.org.