Alert July 27, 2010

DOL Issues Interim Final Regulations Regarding Service Provider Fee Disclosure

The Department of Labor (the “DOL”) issued an interim final regulation under Section 408(b)(2) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). Section 408(b)(2) of ERISA provides an exemption from ERISA's prohibited transaction rules for reasonable arrangements with service providers. The DOL originally proposed an amendment to the regulation under Section 408(b)(2) of ERISA in December 2007. The interim final regulation, which includes substantive changes from the regulation as proposed, is effective July 16, 2011, while comments are due by August 30, 2010.   The interim final regulation will be discussed in greater detail in a future issue of the Alert.