Duty Bound: Required reading: 408(b)(2) prohibited transaction rules
Los Angeles partner Fred Reish published his latest “Just out of Reish” column in the January 2013 issue of PLANSPONSOR.
The feature discusses the new legal responsibility imposed on plan sponsors and their fiduciaries spelled out in the 408(b)(2) disclosure regulation. Fred discusses the duty in depth and advises plan sponsors how to determine which of their service providers are covered by the regulation. He also discusses a good rule of thumb for how a committee can tell if the disclosures are adequate.
The material contained in this communication is informational, general in nature and does not constitute legal advice. The material contained in this communication should not be relied upon or used without consulting a lawyer to consider your specific circumstances. This communication was published on the date specified and may not include any changes in the topics, laws, rules or regulations covered. Receipt of this communication does not establish an attorney-client relationship. In some jurisdictions, this communication may be considered attorney advertising.
Meet the Authors
