January 31, 2013

Prudent Process: Under 408(b)(2), sponsors have a duty to evaluate advisers

Los Angeles partner Fred Reish published his latest “Just out of Reish” column in the February 2013 issue of PLANSPONSOR.

The 408(b)(2) regulation required “covered service providers” to make their initial disclosures to plans by July 1, 2012. In the future, those service providers will need to make disclosures to new plan clients before the providers are hired. This column focuses on the fiduciary duty of plan sponsors to prudently evaluate disclosures from their advisers.*

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