Are your retirement plans expenses reasonable?
A guide to the retirement plan service provider fee disclosure regulations
RSM has issued A Guide to the Retirement Plan Service Provider Fee Disclosure Regulations. These regulations require retirement plan service providers to disclose comprehensive information about their services and fees by July 1, 2012. This guide is designed to help retirement plans sponsors understand their responsibilities to determine:
- Who the covered service providers to the plan are
- Whether each covered service provider made a timely and complete written disclosure of the services they provide to the plan, the direct or indirect compensation they expect to receive from the plan for those services, and whether they are providing fiduciary services
- Whether the compensation (direct and indirect) the covered service provider expects to receive from the plan is reasonable