Human Resources - Miami, Florida, United States
Our compnay and product helps 401(k) administrators comply with the new fee disclosure rules as contained in the 408(b)(20 regulations. The product consists of two parts. The first is a disclosre form which companies will give to their 401(k) service providers. By using this form the company ensures that all the required information is provided by the service providers. In addition, the form logically organzies the data making it easeir for the company to meet its obligations under 408 (b) (2). The second part of the product provides cost and fee data from over 100,000 qualified plans which the ccompany can then use to benchmark their own pension plan costs. This is important because the new regulations require companies to assess whether the costs being incurred by their pension plans are reasonable or not.
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