Compliance November 4, 2010

DoL Schedules Welfare Plan Disclosure Hearing

November 4, 2010 (PLANSPONSOR.com) – Federal regulators have scheduled a public hearing for next month to discuss issues relating to disclosure of fees and other information by employee welfare benefit plan service providers to plan fiduciaries.
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A news release from the U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) said the plans involved in the December 7 hearing include health, disability, severance and other offerings governed by the Employee Retirement Income Security Act (ERISA).

According to the agency, the hearing will be held at 9:00 a.m. (EST) at the Labor Department, 200 Constitution Ave., N.W., Room S-4215 A-C in Washington, D.C.  A copy of the hearing notice is available on EBSA’s Website at http://www.dol.gov/ebsa.  Information about the agenda for the hearing will be available on the website on or after November 17, EBSA said. . 

Those  interested in presenting testimony and answering questions at the hearing must submit, by 3:30 p.m. (EST) November. 17, 2010, the information specified in the notice.  Individuals wishing to attend the hearing should provide contact information by email to e-ORI@dol.gov and arrive at least 15 minutes prior to the start of the hearing to expedite entrance into the building. 

A series of recent DoL rules have deal with fee disclosures to the various parties involved in employer retirement plans.

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