Available at http://www.principal.com/feedisclosure, “New Participant Fee Disclosure Rules: What Plan Sponsors Need to Know” provides insight on:
- Plans and participants impacted by the new rules;
- Types of information that must be disclosed (such as investment direction and options, investment fees, administrative charges, individual expenses, performance data and more);
- Special disclosure rules for certain types of investments like brokerage windows, target-date funds, annuities and company stock;
- Delivery options for participant disclosures;
- Required timing of disclosures; and
- Repercussions for failing to meet the new requirements.
In October, Principal announced it had added a fee disclosure white paper for financial professionals on its fee disclosure Web site (see Principal Publishes White Paper on Fee Disclosure Guidelines).