Rules Require Disclosure of Fees Retirement Plans Pay Service Providers

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EBSA releases an interim final regulation requiring all companies that provide services to employee retirement plans regulated by the Labor Department to disclose all fee information, including hidden fees, related to those services. The new disclosure rules are necessary to help employers that sponsor retirement plans and the plans' fiduciaries get the information they need for assessing the reasonableness of those fees, as required under ERISA, the preamble says. The rule addresses the application of the requirements of the regulation to Section 4975 of the tax code.