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O’Melveny Explains New Rules for Retirement Plans in AM Best Company

February 22, 2012

 

The February 21, 2012, article, “New Retirement Plan Rule Ups Fee-Disclosure Requirements,” details additional disclosures about employer-sponsored retirement plans that are required by new regulations by the US Department of Labor. An O’Melveny & Myers’ client alert that is referenced in the A.M. Best Company, Inc.’s article gives additional details on the final regulation, which “requires that a fiduciary retaining a plan service provider obtain detailed information concerning the service provider’s fees and services to qualify for an exemption to ERISA’s prohibited transaction rules,” according to the article.