DOL rule on disclosure of fees and conflicts of interest affecting 401(k) and other plans.

The U.S. Department of Labor has announced an interim final rule that will enhance disclosure to fiduciaries of 401(k) and other retirement plans. The rule will assist fiduciaries in determining both the reasonableness of compensation paid to plan service providers and any conflicts of interest that may impact a service provider's performance under a service contract or arrangement. The rule will also enhance disclosure to pension plan fiduciaries by requiring the disclosure of the direct and indirect compensation certain service providers receive in connection with the services they provide.

The...