EBSA Revises Submission Procedures for Fiduciary Relief Under Disclosure Rule

The U.S. Department of Labor's Employee Benefits Security Administration (EBSA) has announced improved procedures for plan sponsors who wish to obtain fiduciary relief for a service provider’s failure to comply with the department’s plan-level fee disclosure rule. A new Direct Final Rule accordingly revises the mailing address and web-based submission procedures for filing certain notices […]

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EBSA Delays Plan Disclosure Requirement by Three Months

The U.S. Department of Labor's Employee Benefits Security Administration (EBSA) has issued a final rule that will provide employers sponsoring pension and 401(k) plans with information about the administrative and investment costs associated with providing such plans to their workers. The department also announced a 3-month extension in the effective date of this rule, meaning […]

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EBSA Creates New Consumer Web Page for Benefits Assistance

The U.S. Department of Labor's Employee Benefits Security Administration (EBSA) has created a new consumer assistance Web page that provides easy access to useful information and allows users to submit questions and complaints about health and retirement plans electronically. "Helping retirement and health plan participants find answers to questions about their benefits and providing assistance […]

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EBSA Extends Compliance Dates for Retirement Plan Fee Disclosure Rules

The Employee Benefits Security Administration (EBSA) has extended compliance dates for two rules relating to retirement plan fee disclosures. First, the EBSA final rule extends the applicability date of the fiduciary-level fee disclosure rule of July 16, 2010, to April 1, 2012. This rule enhances the information that service providers must provide plan fiduciaries. Second, […]

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DOL Reports Busy Agenda for the Remainder of 2011

In its semi-annual report to Congress on its upcoming agenda, the Department of Labor (DOL) revealed that the Occupational Safety (OSHA) and Health Administration and the Employee Benefits Security Administration (EBSA) will be finishing up some far-reaching rule-making decisions. OSHA is busy revising its Injury and Illness Prevention Program (I2P2), a program that will affect […]

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EBSA to Hold Hearings on PPACA Automatic Enrollment Mandate

The Employee Benefit Security Administration (EBSA) will hold public hearings on April 6 to discuss the automatic enrollment provision of the Patient Protection and Affordable Care Act (PPACA). PPACA inserts a provision in the Fair Labor Standards Act (FLSA) requiring businesses with 200 or more employees to automatically enroll all employees into a health plan, […]

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EBSA Imposes New Requirements on 401(k) Fee Transparency

In the wake of a spate of high-profile employee class action lawsuits on excessive 401(k) fees, the Employee Benefits Security Administration (EBSA) has jumped into the fray with the publishing of a final rule of the transparency of fees and expenses associated with 401-(k)-type retirement plans. Plan administrators will now have to provide detailed, plain-language […]

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