April 10, 2014

Bruce Ashton Quoted in PLANADVISER

Los Angeles partner Bruce Ashton spoke to PLANADVISER about the DOL's fee data proposal, which he said was “fairly straightforward, but could trigger a prohibited transaction.”

Bruce explained that when adopted, these guide requirements should make it easier for plan sponsors to find the information they need to assess whether a service arrangement and the compensation are reasonable, however, covered service providers will have to furnish a separate document that details where the plan sponsor can find required information "and plan sponsors must know that they are supposed to receive this document,” he said.

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