Welcome to an ERISA sunscreen moment!
Today’s sunscreen moment deals with “reading the label” as it relates to covered service provider fee disclosures.
A recently enacted requirement under ERISA Section 408(b)(2) states that in order for an expense being charged to an employee benefit plan to be reasonable, it must meet certain written fee disclosure requirements in advance of the commencement of the service.
Reading these fee disclosures is extremely important for today’s fiduciary.
Watch this week’s video to find out if you are receiving all of the significant disclosures from your provider.
View video on YouTube: https://www.youtube.com/watch?v=VR18XTLy1Og&feature=youtu.be