MAR 2012 – Department of Labor fee disclosures set for July 1st

        The Redlands Chamber of Commerce will present a seminar, Thursday, March 22, 12:00 PM at the Chamber office, to assist employers and service providers understand the regulations and assist in compliance avoiding unnecessary penalties. The program is free to Chamber members, $25 for non-Chamber members, lunch is included.

        The Department of Labor recently issued the final ERUSA 408(b)(2) Plan Fee Disclosure and ERSA 404(A) Participant Disclosure Regulations which become effective on July 1st.

        The new regulations require three actions; 1) service providers must disclose all fees and compensations to employers who sponsor qualified retirement plans, 2) employers must evaluate and determine if the fees and compensation are reasonable and 3) employers must provide detailed fee disclosures to employees with participate in the plan. The Department of Labor will impose penalties on both service providers and employers for non-compliance.

        David Penniall and Shannon Main will present the program sponsored by Barich & Associates.

        For reservations call the Chamber office at 909 793-2546. Seating is limited