News & Information

 

FEATURED PRODUCT

U.S. Master Pension Guide, 2012 Edition
Part of CCH's Master Series of professional guidebooks. The book provides a comprehensive explanatory overview of qualified retirement plans and other retirement arrangements, reflecting up-to-date law changes and regulations. Benefit COLAs, calendars, and tables reflect the year 2012 figures.

Learn More »

CCH® PENSION — 02/09/12

EBSA semiannual regulatory agenda addresses fiduciary rules, fee disclosure, target date rules

The Employee Benefits Security Administration (EBSA) has released its semiannual regulatory agenda for Fall 2011, which outlines regulations that have been selected for review or development during the next year.

Proposed rule stage

Among the items in EBSA's proposed rule stage are:

• Guidance on periodic pension benefit statements.
• Regulatory definition of the term "fiduciary."
• An amendment to the ERISA §408(b)(2) disclosure provisions so that covered service providers may be required to furnish a guide or similar tool along with such disclosures.
• Amendment to claims procedure rules concerning the internal claims and appeals process.

Final rule stage

Among the items in EBSA's final rule stage are:

• Improved disclosure rules to help pension plan fiduciaries determine if fees for an arrangement for services are "reasonable."
• A rule to implement section 501 of the Pension Protection Act of 2006 (PPA; P.L. 109-280) to require the administrator of a defined benefit pension plan to provide participants, beneficiaries, and other parties with an annual funding notice.
• Rules to enhance the information that must be disclosed concerning target date, or similar age-based, qualified default investment alternatives.

Source: EBSA Agenda for Fall 2011, www.Reginfo.gov.

For more information, visit http://www.wolterskluwerlb.com/rbcs.

For more information on this and related topics, consult the CCH Pension Plan Guide, CCH Employee Benefits Management, and Spencer's Benefits Reports.

Visit our News Library to read more news stories.