If you’re a retirement plan sponsor, you probably had July 1 circled on your calendar.
Sunday was the deadline for fee disclosure, a long talked-about regulation from the Department of Labor that requires certain service providers of ERISA-covered plans to provide sponsors with clear disclosure of the compensation they, their affiliates and their subcontractors get from plan assets.
“Typically if you work for a small employer with a small retirement plan, you pay more. And if you work for a big company with lots of assets from the retirement plan, you pay less. That’s how the math works in terms of making those plans sustainable given the assets under management,” said Laura Lutton, editorial director for Morningstar's Fund Research group.
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