Tracking the New ERISA Landscape
2:45 PM – 4:00 PM
Friday, May 18
This session will provide an overview of the new ERISA reporting and disclosure rules issued by the DOL that will result in fundamental changes in retirement products and services, including:
- Form 5500 (Annual Report), Schedule C (Service Provider Compensation) - Service providers to large ERISA plans to disclose direct and indirect compensation, including non-monetary compensation (gifts, meals, entertainment, etc.).
- ERISA section 408(b)(2) Regulations (Service Provider Disclosures) - Covered service providers to fully disclose direct and indirect compensation (including revenue sharing arrangements) at outset of relationship and with ongoing updates.
- ERISA section 404(a)(1) Regulations (Participant Disclosures) - Disclosures to participants of 401(k) and other participant-directed, individual account retirement plans.
This session will focus on practical advice and solutions to issues and challenges raised by the new disclosure rules. Discussion will include pricing alternatives designed to avoid prohibited transactions, the growing use of ERISA reimbursement credit accounts to recapture revenue for the benefit of plans, and a look to proposed changes to the definition of “fiduciary” under ERISA and its affect on investment advisers and broker-dealers.
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