Sutherland Alert: DOL Releases Interim Guidance on Electronic Disclosure to Participants of Fee and Expense Information



By Mark Smith and Jamey Medlin

On September 13, 2011, the Department of Labor (DOL) issued Technical Release 2011-03, which provides interim guidance on the electronic disclosure of fee and expense information by participant-directed individual account retirement plans under ERISA Reg. § 2550.404a-5 (the "participant fee disclosure regulation").


When DOL published the participant fee disclosure regulation in October 2010, it reserved the provisions of the rule governing the manner in which the required fee information must be disclosed, stating only that its existing electronic disclosure safe harbor rule (Reg. § 2520.104b-1(c)) could be utilized pending review of public feedback it subsequently solicited on that safe harbor. DOL continues to review the public comments it has received and has not yet published any updated electronic disclosure guidance.

To read the full alert, please follow this link.



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