Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Merrill Lynch agreed to pay Wal-Mart 401(k) plan participants $13.5 million dollars over excessive plan fees. This settlement comes on the verge of the final deadline for ERISA 408(b)(2), which requires service providers to give plan sponsors fee disclosure information by July 1, 2012. Receiving less focus, however, is the next step in the disclosure process: 404(a)(5).

This ERISA section compels sponsors to compile and analyze these disclosures and supply participants with an initial annual fee disclosure by August 31st, 2012. At this time, an investment comparative chart is also required for participants. These changes present a variety of opportunities for advisors to offer value-added services to their clients.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?


Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.